Group Says Investor Rules Must Focus On Sustainable Profits
Law360, London (April 4, 2019, 4:03 PM BST) -- Updated investor guidelines that allow fund managers to hold the companies that they invest in to account must focus on ensuring that consumers are making profits in a sustainable way, an investment trade group said Thursday.
The Investment Association, which represents U.K. asset managers, said that the Financial Reporting Council's revised stewardship code must push investment managers to consider the financial outcomes for their retail clients. These fund managers must shape their practices so that they are delivering sustainable investment returns for their clients — which the group said is the central purpose of stewardship.
But the association said, in its...
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