Indiana pension fund drops BlackRock over ESG policy, seeks new managers to comply with state law.

The Indiana Public Retirement System (INPRS) board voted to remove BlackRock from managing the state's pension fund due to the firm's involvement in ESG practices, which violate a 2023 Indiana law prohibiting investments aimed at influencing social or environmental policies. INPRS is now seeking alternative asset managers to comply with the state's anti-ESG law. Critics worry that political considerations could affect the pension fund's performance.

3 months ago
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