February 3, 2020
Hon. Jay Clayton
Chairman, Securities and Exchange Commission
100 F Street NE
Washington, DC 20549
Chairman Clayton:
Fund managers' jobs should be maximum financial performance for their clients. Period.
They should not be, as referenced in a recent New York Times article about BlackRock's CEO, about pushing social, political and environmental causes be it on their own accord or through the proxy firms they bring on.
The Securities and Exchange Commission should do everything in its power to ensure fund managers do not allow proxy firms, who have no fiduciary responsibility, to do as BlackRock's CEO is attempting to do - put political beliefs above clients' financial performances.