Two new developments in our blockbuster ESG study: “Putting Politics Over Pensions”
First, CTUP co-founders Steve Forbes and Stephen Moore published a major piece in New York Post yesterday on the results.
Second, as we hoped, the May 16 WSJ editorial about the CTUP report on proxy votes has generated a lot of angry responses from readers. We liked what people had to say and how they plan to take action. We hope you will too. Here’s a brief sample:
- Thank you, Paul Gigot and your Editorial team, for exposing this information. I am going to sell my Grade D ETFs and buy Grade A ones. The people who cast proxy votes on behalf of funds have a fiduciary responsibility to vote in the financial interest of their fund holders.
- Good to hear about Vanguard and Fidelity! I moved as much of my funds from BlackRock & StateStreet to equivalent Vanguard index funds because of this ESG proxy voting Cartel and their pro-Communism stance (stakeholder capitalism / woke capitalism / economic Marxism).
- I’m moving money this morning. Goodbye, State Street.
- I expect my investment firm to represent my preferences. Surprised and disappointed to read the rankings here and see my firm with a grade of D. This will affect my loyalty.
- Thanks for the chart! I know where to pull my investments from.
- I told my financial advisor that I do not want any of my investments in ESG funds or else I would pull them immediately.
- Many of us will be making changes today based on this report. Virtue-signaling quietly with our money; no, thanks.
- I had no idea a couple of my money managers were slaves to ESG. I will be reevaluating my portfolio beginning in a few minutes.
- Good info. I have some of these activist funds like American Century in a work retirement account. They’ll be jettisoned tomorrow for a fund from the companies getting A’s.
- I will be moving any funds I have out of C or lower rated firms and into honest firms who protect my assets as they promise. My little bit won’t make much difference but I hope many readers do the same.