In the Margins

BlackRock to strip gunmakers from ESG funds

April 11, 2018

By Barron's

BlackRock will strip civilian firearm makers and retailers, including Walmart, from its existing ESG exchange-traded funds and plans to launch funds and strategies that take similar steps amid client demand after the Parkland, Fla., high school mass shooting ignited a movement to curb gun violence. Through its many index funds, BlackRock is one of the top investors in the three publicly traded gun makers. Last month, it went public with its plans to engage with firearms manufacturers and retailers regarding business policies and practices connected with the production and sale of firearms. Several other companies also have taken steps, with retailers like Walmart, Kroger, and Dick’s Sporting Goods prohibiting the sale of guns to anyone under 21 and Citigroup restricting the sale of firearms by its customers, as consumers and large investors, including pensions, push for some change. Read the original story from Barron's.

 

 

Most Read

CCO Insight
CCOs see bigger pay bump in 2017

Mutual fund chief compliance officers received significant bumps in pay in 2017, according to new data from Management Practice Inc. On average, fund CCO compensation packages ...