ESG initiatives should avoid unfavourable reactions by pursuing substance over form
By any financial measure, the collaboration of trans activist Dylan Mulvaney with Bud Light hurt the brand. What was formerly America’s best-selling beer saw its market share collapse — from over 35% in May 2023 to around 9% in June — because of a boycott by US conservatives after a 60-second TikTok video aired of Mulvaney drinking it.

Fund performance
Good month for CLO funds sees six in top 10 as Axiom sets pace

CB bond purchase 'greening' is game changer for credit: BofA
Confirmation by the Bank of England that its corporate bond purchase scheme will be ‘greened’ is a game changing moment for credit markets, say Bank of America strategists

Tobacco splutters in broad market sell off
Credit and equity are under pressure on Tuesday as markets pull back from their improved levels amid concerns about the worsening global covid-19 picture. But tobacco companies have their own problems to contend with, with the US considering a proposal to require lower nicotine levels in cigarettes and other countries also looking to curb sales

Axiom bets on 2002-style credit recovery with crossover fund launch
Axiom Alternative Investments is readying to launch a fund aimed at generating returns from the dislocation and revival of European and US credit as the coronavirus pandemic develops

Deutsche Bank AT1s stage uneven recovery as financials lag broader rally
The prompt secondary market backlash to Deutsche Bank’s plans for a major haul of its investment banking business has abated, with AT1 bonds experiencing a revival and outperforming equity. But while there has been little contagion to the rest of the AT1 space, financials are lagging the broader European credit rally

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal