Pension Fund Criticizes US Managers Over Stewardship Abandonment

A Dutch pension fund, PME, has issued a stern warning to US asset managers regarding their adherence to stewardship principles. Concerns stem from BlackRock’s withdrawal from NZAM and the potential for financial risks associated with alignment of strategies with local policies. The fund, managing $65 billion, calls for a shift in investment practices as it highlights a growing divide between transatlantic investment approaches.