Investing in sustainable funds that prioritize ESG goals is supposed to help improve the environmental and social sustainability of business practices. Unfortunately, close analysis suggests that it’s not only not making much difference to companies’ actual ESG performance, it may actually be directing capital into poor business performers.
The U.S. Virgin Islands sold its rum-tax collections to bondholders for $955 million, closing a securitization deal intended to refinance existing debt and replenish an ailing government pension fund.
The hedge fund industry began 2022 on a high note, with more than $4 trillion in capital as managers steered the volatility and uncertainty of the protracted Covid years and the growing inflationary environment.