BlackRock, Wells Fargo said to push ESG funds in 401(k)s
The asset managers are betting that a surge in interest in environmental, social or governance investing will carry through to 401(k)s.
BlackRock, the world’s largest asset manager, and Wells Fargo see ESG as a growth engine for retirement assets even as the U.S. Labor Department has urged retirement plan sponsors to use caution in this area. (Photo: Shutterstock)
(Bloomberg) –Doing good and saving for retirement may soon get easier.
BlackRock Inc. and Wells Fargo & Co. are developing their first-ever ESG funds for retirement savings plans, seeking to tap into growing demand for ethical investing.
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