JPMorgan Investment Arm Purges Its ESG Funds of Adani Stocks (1)

The asset management unit of JPMorgan Chase & Co. has wiped its ESG portfolios clean of their exposure to the Adani empire.

The move, captured by an analysis of data compiled by Bloomberg, comes as a number of major investment firms such as BlackRock Inc. and the fund management unit of Deutsche Bank AG, DWS Group, continue to sit on Adani stakes in ESG funds that track indexes offered by MSCI Inc.

Spokespeople for JPMorgan and BlackRock declined to comment. A spokesperson for DWS said that when it comes to its MSCI-tracking ETFs, “no proprietary DWS ESG ...