"Do not rush to set up a check-box approach with negative screening and start de-investing"
Instead of rushing through an ESG framework, asset managers need to adopt a long- and short-term approach

Former DWS official claims company over-stated ESG progress: WSJ
DWS Group’s environmental, social and governance investment claims are in the spotlight after its former sustainability officer claimed the firm over-stated its ESG efforts, according to the Wall Street Journal

"Technology won’t replace human judgement. In ESG a qualitative review is necessary"
The social aspect of ESG must be given sufficient weight in investment decisions  

Managers offer solutions for underfunded pensions
Credit managers are tapping UK defined benefit pensions that are battling negative cashflows

Credit funds at a glance (June 2021)
A round up of fundraising and people moves in credit

DWS and Tikehau target UK pensions with multi-strategy credit fund
The new fund will invest in CLOs, ABS, private debt, leveraged loans, infrastructure debt and real estate debt

"The lack of standardised ESG data creates opportunities for data-driven investors"
Investors can gain an edge by using technology to help parse ESG data

CLOs are here to help with infrastructure expansion
Issuers of CLOs backed by infrastructure debt are looking forward to a boom as investors turn to infrastructure projects as a way out of the pandemic slump

"The heterogeneous set of KPIs make comparisons difficult and self-policing hurts credibility"
Loans with ESG ratchets are popular and a good way to align incentives – but we need accountable external reviewers

DWS wraps fourth infra CLO
DWS Group has issued its fourth CLO backed by infrastructure credits

A transformational framework means fund managers have to drive real-world change
There are managers who make transformational investments, those who incorporate ESG and those who do nothing

The imperfect incorporation of ESG is no excuse not to act
Managers’ legal ESG responsibilities may be vague, but they must still set up a credible strategy

All types of financing will have to incorporate ESG risks and use their real economy influence
Fund managers can no longer ignore, postpone or hide from measures to tackle climate change

Faith in structures has been rewarded
CLOs have been resilient against covid-19 fallout, said speakers at Creditflux’s CLO Symposium last month. But there’s always room to improve and 3.0 deals may add ESG and bullet tranches

CLO managers offer views on ESG for upcoming PRI report
Principles for Responsible Investment (PRI) is set to unveil a report detailing results from its ESG structured credit survey in the next few months, and the institution anticipates that this will be a launch pad for further investigation about ESG integration into the asset class

Zais ESG head to join DWS
Zais Group’s head of ESG (environmental, social, governance) and impact investing is joining DWS as group sustainability officer in New York

ABS market holds strong as talf date approaches
The US Federal Reserve announced last week that the term ABS loan facility's first subscription date for loans backed by eligible asset-backed securities (ABS) will be 17 June, but before the Fed has even spent a dollar, talf has already been a success, says Tom Sweeney, co-head of structured credit finance at DWS Asset Management.

DWS holds €350 million first close for inaugural direct lending fund
DWS has garnered €350 million on the first close of its inaugural European direct lending strategy, according to an announcement by the firm

Deutsche AM's real estate division prepares second infra CLO
RREEF America, a subsidiary of Deutsche Asset Management that invests in commercial real estate, is readying a new securitisation backed by project finance assets named RIN II

DWS backs away from planned ESG-style European CLO
DWS has dropped plans to launch a European CLO, sources say. It is unclear why DWS, the asset management arm of Deutsche Bank, has turned its attention elsewhere, but one source says that the capital-intensive nature of putting together risk retention-compliant deals likely weighed on the firm. 

Deutsche Bank prepares CLO refi for asset management arm
Deutsche Bank has won the mandate to refinance Deutsche Asset Management’s 2014 CLO, Flagship VIII, according to market sources

Deutsche Asset Management prices its second 2.0 CLO
Flagship VIII was upsized from $412 million to $451 million prior to pricing on Friday

Deutsche Bank prepares first 2014 CLO for asset manager
Deutsche Bank is preparing a $412 million CLO that is on course to price in October