US Fund Managers Put on Notice by $65 Billion Dutch Investor (3)

Dutch pension fund PME is issuing a blanket warning to US money managers, amid concerns America’s investment industry is caving in to pressure from the Trump administration to abandon basic principles of stewardship.

They “aren’t condemning what Trump is doing and how he is operating and how he is handling issues like climate change and demolishing the judiciary,” Daan Spaargaren, senior strategist for responsible investing, said in an interview. “We are worried about that.”

PME, with assets under management of about €57 billion ($65 billion), is the latest in a string of pension funds in Europe to express such ...