A 91% Asset Plunge Hits a BlackRock Fund of Sustainable EM Stocks
Source: https://www.bloomberg.com/
In the two days leading up to Christmas Eve, the iShares ESG MSCI EM Leaders ETF (LDEM) lost 91% of its investments, leaving its total assets depleted at about $69 million, compared with $803 million on Dec. 21. The blow comes less two years after the fund was launched with great success and the backing of Finland’s oldest pension company. LDEM tracks an index containing large and mid-cap emerging-market stocks that meet certain environmental, social and governance criteria. The fund’s number of shares outstanding dropped to just 1.2 million, the lowest ever.