Ashmore's once-mighty short-duration fund has gone from $7.8 billion in 2019 to just over $300 million in mid-February.
BlackRock has become a "political punching bag" from forces on both ends of the spectrum.
"I don't see any chance, frankly, of easing this year," said BlackRock Vice Chairman Philipp Hildebrand.
The company said U.S. pension funds would face losses if fund managers are forced to write down their Russian holdings.
“Climate change is not a financial risk that we need to worry about,” Stuart Kirk said at a Financial Times conference.
Russian securities account for less than 0.01% of client assets, mostly in index portfolios, the asset manager said.
The changes to the indexes are likely to have broad consequences among asset managers.
Those two firms are also large holders of shares or bonds in the two sanctioned Russian banks.
Market gurus like Jeremy Grantham have also suggested that a bubble may have formed in ESG.
Companies large and small are now adopting hybrid work patterns unrecognizable from pre-pandemic routines.
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