AQR's New ESG Fund Tops 94% of Peers by Shunning Fossil Fuels [Business News Network (BNN) (Canada)]
MSCI Inc (MSCI)
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Source: Business News Network
The AQR Sustainable Long-Short Equity-Carbon Aware Fund is up about 20% this year, which is a better result than 94% of comparable funds, according to data compiled by Bloomberg. The MSCI World Index plunged 17% in the same period. A key focus of the fund, which is co-managed by AQR co-founder Cliff Asness and Lukasz Pomorski, the firm's head of ESG research, has been to look for undervalued stocks that score well on environmental, social and governance metrics, while shorting companies that don't seem prepared for the ramifications of global warming. The fund is “very keenly aware of climate and fossil-fuel exposure,” Pomorski said in an interview. “We don't allow any long exposure in fossil fuels, oil majors and such.” Within that framework, “the single most important driver has been valuation,” which “paid off in spades in the first quarter and continued into April,” he said. The fund's gains suggest ESG investors can still generate solid returns by shunning oil, gas and coa
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MSCI
News
- MSCI Inc. (NYSE: MSCI) had its price target lowered by analysts at UBS Group AG from $700.00 to $575.00. They now have a "buy" rating on the stock.MarketBeat
- Net Asset Value(s) [Yahoo! Finance]Yahoo! Finance
- MSCI Inc. (NYSE: MSCI) had its price target lowered by analysts at Barclays PLC from $700.00 to $600.00. They now have an "overweight" rating on the stock.MarketBeat
- Michelin: Q1 sales down 2.7% at constant exchange rates, on soft volumes as expected. Strong mix development reflecting performance in value-accretive segments. 2024 full-year guidance unchanged. [Yahoo! Finance]Yahoo! Finance
- Artisan International Value Fund Q1 2024 Commentary [Seeking Alpha]Seeking Alpha
MSCI
Earnings
- 4/23/24 - Beat
MSCI
Sec Filings
- 4/24/24 - Form 8-K
- 4/23/24 - Form 10-Q
- 4/23/24 - Form 8-K
- MSCI's page on the SEC website