Dutch pension fund PME, which has $70B in assets, has cut ties with BlackRock (BLK) based on its assessment that the company no longer acts in its best interests on issues such as climate risk, Frances Schwartzkopff of Bloomberg reports. BlackRock will no longer oversee a $5.9B equity mandate, PME told Bloomberg via email. PME transferred its portfolio to UBS Group (UBS) and MN, according to Bloomberg.
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