While fiduciaries do not have to avoid ESG-related investments, they do need to put them through the same prudent, thorough and well-documented process that they use to consider all plan investments.
Citi Self Invest will be available to checking account holders at first and applies to individual stocks and ETFs but will later add other types of investments, such as mutual funds or options.
The SEC may soon require greater transparency of the diversity at asset managers; SMArtX adds 56 new strategies to its TAMP platform; and J.P. Morgan launches two new nontransparent active ETFs.
In this week’s fund news, a new House bill would update restrictions on closed-end funds investing in private markets; advisor Ross Gerber launches an active ETF; and CoastalOne introduces an alternatives platform powered by WealthForge.