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ESG Gaining Traction Among Pensions and Wealth Funds

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factor investing growth

Environmental, social and governance (ESG) factors are increasingly being included in investment mandates. Asset managers are even integrating ESG factors into smart beta strategies. On July 14th, the New Zealand Superannuation Fund (NZSF) announced the appointment of Northern Trust’s international asset management arm to run a Barclays Global Aggregate fixed income mandate, incorporating NZSF’s ESG exclusions. The new mandate is being added to the four passive global equity mandates awarded by the New Zealand Guardians to Northern Trust in 2013.

“We are pleased to grow our existing partnership with Northern Trust. The appointment is consistent with our desire to have fewer, deeper manager relationships, helping us manage the Fund’s portfolio as efficiently as possible,” said Matt Whineray, chief investment officer of the NZSF in a press release.

Northern Trust is building out operations in Australia. The company built an asset management sales and relationship management presence in Melbourne. Northern Trust maintains a custodial relationship with the NZSF since 2007.

Asset Managers Take Watch

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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Marsh & McLennan Companies to Acquire JLT Group

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Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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