Robert H. Sitkoff of Harvard Law School recently coauthored an op-ed piece for the Wall Street Journal entitled “’Investing for Good’ Meets the Law - A fiduciary can’t escape the obligation to invest for the client’s best returns.”
In the piece Professor Sitkoff and Max M. Schanzenbach examine the renewed pressures faced by trustees of pensions, university endowments and trust funds to “do social good” while investing money from their contributors. The article further explores how, in general, the law says little about what people may do with their own money but has much to say about what trustees and other investment fiduciaries do with their beneficiaries’ money.
Read the full article here [Subscription required].