Asset managers

Complicating socially conscious investing is the fact the SEC doesn’t regulate how the category’s labeling is applied.

“These are tracking the industries that are supporting the economy and will continue in the post-pandemic world,” an expert says.

The acquisition established a $6 trillion-giant operating as a mutual fund company, RIA custodian, bank, retail brokerage and national wealth management firm.

The Managed Funds Association urged the agency to do more analysis before moving forward.

In the first half of the year, fewer than a third of U.S. domestic equity fund managers delivered annualized returns that outpaced the S&P Composite 1500.

The fund giants voted for 99% of U.S. directors proposed by the energy, utility, banking and automotive companies reviewed by nonprofit research group Majority Action.

“Investors are going into lower, more passive mutual funds because they don't want to pay the fees,” an expert says.

Funds from the biggest three issuers account for more than 80% of the industry's total assets.

While some industry employees are eager for the normalcy of their offices, others are more reluctant as experts predict another rise in virus cases.

The industry’s largest money manager experienced record inflows to sustainable products in the first six months of the year.