(Bloomberg) A popular ESG fund in Japan managed by Morgan Stanley and sold by Mizuho Financial is triggering an industry-wide review by regulators who are looking into new rules for mutual funds to protect investors from possible “greenwashing.”Japan’s Financial Services Agency may start discussions with asset management firms and fund distributors by June about whether there should be rules for mutual fund labels, according to FSA officials who spoke on condition they not be identified. One of the goals is to prevent firms from exaggerating or misrepresenting the environmental, social or governance benefits of their funds to attract investors, the people said.The FSA’s move was partly triggered by the Global ESG High Quality Growth Equity Fund, a 1 trillion yen ($9.4 billion) mutual fund owned by Mizuho Financial Group Inc.’s Asset Management One Co. and managed by New York-based Morgan Stanley, the officials said.According to the FSA, the fund ini
Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades. The Nikkei 225 index rose 1.91 percent, or 564.08 points, to 30,084.15, the highest close since 1990. The broader Topix index advanced 1.04 percent, or 20.06 points, to 1,953.94. "The 30,000 mark is symbolic but it's still a waypoint," said Toshikazu.
Oil prices rose above $63 for the first time since last January this morning as last week’s rally continued apace. The post Oil prices climb above $63 for first time in 13 months appeared first on CityAM.