On October 22, 2015, the Department of Labor issued new guidance, Interpretive Bulletin 2015-01, relating to the fiduciary standards under ERISA in considering economically targeted investments (“ETIs”), or investments chosen to foster specific social goals, such as economic development and/or home ownership in a particular state or area. What does this guidance mean for fund fiduciaries?
Tag Archives: social investment
Economically Targeted Investments: Department of Labor Guidance Leaves Many Questions Open
CalSTRS Finalizes Divestments from Gun Manufacturers
(Posted on April 23, 2013 by Carol V. Calhoun)
An article in Pensions & Investments reports that in the wake of the school shooting in Newtown, Connecticut, the California State Teachers Retirement System (CalSTRS) has approved the divestiture of holdings in two gun manufacturers that make weapons that are illegal in California.