Republicans Target Mutual Fund Directors in Latest ESG Probe

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  • 15 Republican AGs wrote a letter to ten mutual fund directors who helm funds for which BlackRock, Inc. serves as an investment adviser, requesting information regarding potential conflicts of interest and ESG investments.
  • In the letter, the AGs raise concerns that the directors are not fully independent, citing to certain directors’ relationships with BlackRock as either an employee or a board member of a company in which BlackRock owns a stake, and further asserts that the directors are not being provided all materials related to conflicts of interest by BlackRock, among other concerns.
  • The AGs request that the directors answer a list of questions included in the letter.
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