Association Groups Launch New Investor Coalition Against ESG-Focused Investments

On May 23, 2018, a group of national financial, retirement and manufacturing associations launched the Main Street Investor Coalition to reverse the trend of institutional investors using retail investors’ funds to advance social and political objectives rather than focusing on improving business performance and financial returns. The Coalition’s key priorities include ensuring that retail investors who own passive funds through 401(k)s have a say in how their shares are voted; forcing third-party proxy-advisory firms to be more transparent about potential conflicts of interest; and insisting that public pension funds meet the same basic regulatory and reporting standards as private pension funds. The release is available here.