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The issuance of esg funds has sharply declined, reflecting the strong resistance of the market to ESG.
ESG fund issuance is quietly stagnating at some of the world's largest asset management companies. According to data provided by Morningstar Direct, companies such as BlackRock, Deutsche Bank's DWS Group, Invesco, and UBS Group's asset management departments have all reduced the number of new funds with ESG requirements. The data shows that as of the end of May this year, just over 100 ESG funds have been issued globally, with the industry expected to be far below recent levels. In contrast, 566 ESG funds were issued globally in the whole of 2023, which was lower.
Top stories of foreign exchange: Gold prices surged to a record high. Musk announced he will move the headquarters of X and SpaceX to Texas. Russia plans to cut crude oil production.
Global financial media's headline news yesterday and this morning mainly focused on: Gold prices soar to record highs. Traders increase their bets on the Fed rate cuts and Trump's re-election. Spot gold prices rose to a high of $2,451.44 per ounce, breaking the previous record set at the end of May. Signs of slowing US inflation fueled speculation that the Fed will soon begin cutting interest rates. Gold prices have reached a new high as market hopes for Fed rate cuts continue to rise, and some traders increase their bets on Donald Trump winning the US presidential election again. Investors in various markets are also weighing the increasingly strong probability of Trump's return to the White House, as his election prospects over the weekend.
The active ETF of the bond king attracted a record high amount of funds.
The moment that bond giants have been waiting for has finally arrived, with record inflows of client funds into actively managed ETFs. According to Morningstar Direct data, investors have poured a total of $245 billion into active and index mutual funds and ETFs in the first half of the year, far surpassing the $150 billion in the first half of 2023 due to the expected early September interest rate cuts by the Federal Reserve. Active ETFs from Janus Henderson Group, BlackRock, Fidelity Investments, and Pimco are particularly popular. Compiled data shows that as of July 12th, there is a net inflow of active fixed-income ETFs.
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Charles Schwab Stock Plummets 6% After Earnings
Shares of Charles Schwab opened down 6% after the company's quarterly earnings report fell short on some important metrics, including bank deposits, net interest revenue, and new
Schwab Beats Earnings Forecast, But Misses on Some Key Measures. The Stock Is Falling. -- Barrons.com
By Andrew Welsch Charles Schwab narrowly beat analysts estimates for the second quarter, but it wasn't enough to please investors. It reported second quarter earnings per share of 73 cents, a penny
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