Indiana bill targeting ESG investing heads to governor’s desk
House Bill 1008 has been significantly watered down since it was first introduced, but Republicans say the anti-ESG legislation still accomplishes its intent.
Investing
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Investors say they are owed money from life settlements
The Indiana Secretary of State is investigating multiple complaints it has received against Roger Dobrovodsky and/or his business entities, which include EDU Financial Strategies, EDU Holding Trust, EDU Trust Services LLC and EDU Wealth Advisors LLC.
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Indiana pension system contracts with conservative anti-ESG firm
The contract with anti-ESG firm Strive Advisory, LLC and its co-founder Vivek Ram is capped at $150,000 — with conservative Republican presidential candidate Ramaswamy set to earn $4,000 per hour for ad hoc work.
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IBJ Podcast: Pete The Planner on the new rules for saving
Late last year, Congress passed a significant revision to the rules for retirement plans with the intent of extending and expanding your saving opportunities.
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Anti-ESG pension bill’s high price tag a concern for governor, top lawmakers
State senators are pointing to their less-stringent alternative as House lawmakers scramble to tighten up their bill on environmental, social and governmental investment.
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Articles
Indiana venture activity shows signs of strength in down market, report says
PitchBook’s first-quarter venture report, released this week, shows that venture activity declined sharply year-over year nationwide, but the picture was rosier in Indiana.
Indiana Senate committee advances pared down anti-ESG bill
A bill designed to prevent the state’s pension fund from working with asset managers that use environmental, social and governmental considerations in their investment strategies was advanced by the Indiana Senate Pensions and Labor Committee on Wednesday.
Biden issues first veto, taking on new Republican House
Biden sought to kill a Republican-authored measure that would ban the government from considering environmental impacts or potential lawsuits when making investment decisions for people’s retirement plans.
Business backlash pushing GOP to weaken anti-ESG proposals
Conservative Republicans who want to thwart socially and environmentally conscious investing are now being pushed to water down their proposals by backlash from powerful business groups and fears that state pension systems could see huge losses.
Biden expected to tighten rules on U.S. investment in China
The expected action is the latest effort by the White House to target China’s military and technology sectors at a time of increasingly fraught relations between the world’s two biggest economies.
Biden set for first veto on Senate bill opposing climate-related investing
The Senate passed the measure after Sens. Jon Tester, D-Mont., and Joe Manchin III, D-W.Va., crossed party lines and joined the Republicans.
Ex-U.S. Rep. Buyer of Indiana goes on trial over stock buys
The former representative for Indiana’s 4th Congressional District is accused of illegally garnering stock windfalls by exploiting his consulting clients’ corporate secrets years after he left Congress.
Bill targeting ESG investing for public pensions passes Indiana House
A controversial proposal cracking down on alleged ESG investing in public pensions—while supporting “discriminated” businesses in contentious industries—passed the House mostly along party lines Monday.
Anti-ESG bill clears financial panel with new $5.5M price tag
House Bill 1008 seeks to block the Indiana Public Retirement System, the Indiana State Police Pension Trust and their respective publicly traded financial managers from making investment decisions based on environmental, social or corporate governmental policies, or ESG.
Democrats seek tighter limit on stock buybacks in chip subsidies
The members of Congress want companies that accept money authorized by the Chips and Science Act to be restricted from engaging in stock buybacks for at least 10 years.
Analysis: Anti-ESG pension bill could shrink state pension returns $6.7B in next decade
An updated fiscal analysis for the legislation shows that over the next decade, the bill, if enacted, could reduce investment returns on defined-benefit funds by $6.4 billion and defined-contribution funds by $300 million.
Bill requiring public retirement system to divest from ESG-following firms advances
An Indiana House committee on Thursday approved a bill requiring the state’s public pension system to divest from and terminate business relationships with firms or funds that use non-financial environmental, social and governmental framework factors in investment decisions.
Committee approves anti-ESG, anti-China pension investing bills
Indiana senators on Wednesday said the state’s pension system should prioritize return on investment in one bill—not environmental and social concerns—even as they advanced another bill requiring the system to divest from China-related investments.
SPACs lose their spark with deals hard to find
Around Indiana and the nation in recent weeks, special purpose acquisition companies, or SPACs, are shutting down and returning money to investors. In other cases, investors are taking a bath.
Startups face cautious investors amid economic woes
Many startups are attempting to find their wings at a time when consumers are tightening their belts and being more picky about how to spend their money.
Indiana House Republicans take aim at ESG investing
House Republican leadership appears poised to dive into culture war issues again when the legislative session starts in January, setting a target on environmental, social and government-focused investing within the Indiana Public Retirement System.
S&P 500 closes out dismal year with worst loss since 2008
The benchmark index fell 0.3% Friday, the last trading day of the year, leaving it down 19.4% for the year.
IBJ Podcast: Pete the Planner on making the best of a terrible year for investments
The personal finance columnist explains what he calls the “power percentage” and also ventures to make a few optimistic predictions for 2023.
Vanguard quits net-zero group after GOP criticism
Indiana Attorney General Todd Rokita was among the leaders of multistate effort to stop companies like Vanguard from ESG investing, which puts an emphasis on environmental, social, and governance issues.