Sen. Ram Villivalam

Filed: 3/16/2023

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 2429

2    AMENDMENT NO. ______. Amend Senate Bill 2429 on page 5 by
3replacing lines 9 through 26 with the following:
4    "(e) Beginning January 1, 2024, investment managers shall
5disclose, prior to the award of a contract, a description of
6any process through which the manager prudently integrates the
7sustainability factors described in subsection (b) into their
8investment decision-making, investment analysis, portfolio
9construction, due diligence, and investment ownership in order
10to maximize anticipated risk-adjusted financial returns,
11identify projected risk, and execute the manager's fiduciary
12duties. Investment managers shall provide this disclosure to
13each public agency, pension fund, retirement system, or
14governmental unit for whom the investment manager is seeking
15selection as a fiduciary before acting in this official
16capacity.".