Sustainable funds events and developments: October 2020

Share This Article:

Share on facebook
Share on twitter
Share on linkedin
Share on telegram

The Bottom Line:  Sustainable funds related events or developments in October 2020 numbered 33, including two M&A transactions involving Eaton Vance and Truvalue Labs, Inc.

October 2020 Events Summary
During October 2020 we identified 33 sustainable fund related events or developments.  These include the following:

  • 18 events involved the launch of new US and non US-based mutual funds or ETFs.
    • 15 non US-based mutual fund and ETFs
    • 3 US-based mutual fund and ETFs
  • 5 senior management organization changes
  • 3 new analytical tool or research or indices
  • 2 merger, acquisition, divestitures or JVs
  • 2 portfolio management team changes
  • 3 other events, including a new security type, new robo investing application/platform and a competitive strategic move or repositioning.

Events highlight
Two M&A transactions were announced in October. The first on October 6 involved Morgan Stanley (NYSE: MS) and Eaton Vance Corp. (NYSE: EV) who announced that they have entered into a definitive agreement under which Morgan Stanley will acquire Eaton Vance.  Eaton Vance conducts its investment management and advisory business through wholly-and majority-owned investment affiliates that include: Eaton Vance Management, Parametric Portfolio Associates LLC, Calvert Research and Management and Atlanta Capital Management Company, LLC.  On a combined basis, these two firms will add $98.2 billion in sustainable mutual fund and ETF assets to Morgan Stanley’s $51.9 billion across 201 funds/share classes that are managed pursuant to an ESG Integration approach.  These numbers do not incorporate Parametric’s $25.0 billion direct-indexing separate account business managed pursuant to client-specified responsible investment guidelines.

The second transaction which was announced on October 20 involved publicly listed FactSet (NYSE:FDS) (NASDAQ:FDS).  The firm announcement that it has entered into a definitive agreement to acquire Truvalue Labs, Inc., an AI-driven environmental, social, and governance (ESG) data provider. Terms of the transaction, which is expected to close later this year, were not disclosed.

Refer to Table 1.


Ready To Gain
Competitive Edge?

A new level of analysis, data & research about mutual funds, ETFs, ETNs & other ESG related investment vehicles