Investors continued to prefer “safe haven” money market funds as they shifted assets back into all types of open-ended funds in the second quarter, buoyed by a strong recovery in global financial markets, according to data compiled by The European Fund and Asset Management Association (EFAMA).

Written by Sacha Bernasconi, portfolio manager of the SYZ Green Bonds Fund.

The catastrophe of Covid-19 has given the world one silver lining. A wake-up call. A sobering vision of the future, and the economic and social devastation climate change will bring. As responsible investors, we must be mindful of this portent of the future and accelerate our efforts in delivering progressive action. It is time to move the dial.

Vanguard has closed both the USD1.8 billion Vanguard Pennsylvania Municipal Money Market Fund and the USD1.2 billion Vanguard New Jersey Municipal Money Market Fund to new investors, and plans to close both funds in November.

Companies that have promised publicly to run their business for the benefit of all stakeholders have handled the Covid-19 crisis and social and racial inequality worse than companies with no such commitment, a new report from The Test of Corporate Purpose finds.

A new report from Lloyds Bank highlights how Covid-19 is expected to change the financial services workplace, with almost all (89 per cent) financial institutions planning to maintain flexible working patterns for employees and eight in ten (81 per cent) expecting to use digital platforms like Microsoft Teams and Zoom to liaise with clients. 

LCH CDSClear has become the first clearing house to go live with clearing for the iTraxx MSCI ESG Screened Europe Index and its constituent single names for members and their clients.

Alpha Real Capital (Alpha), a specialist manager of secure income real assets, has appointed Roger Mountford as Senior Adviser (Pensions).

Aegon Asset Management has launched the Aegon ABS Opportunity Fund aimed at delivering a through-the-cycle return of Euribor+500 bps via active investment in asset-backed securities.

Buck, an integrated HR and benefits consulting, technology, and administration services firm, has been appointed to manage two defined contribution (DC) pension plans for Sky, a direct-to-consumer media and entertainment company. 

Experienced executive and non-executive director and accountant Jason Laity has been appointed Chairman of Jersey Finance.