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BlackRock, Wells Fargo Are Betting on Ethical Investing Funds for 401(k)s

Melissa Karsh, Emily Chasan
BlackRock, Wells Fargo Are Betting on Ethical Investing Funds for 401(k)s

Doing good and saving for retirement may soon get easier. BlackRock Inc. and Wells Fargo & Co. are developing their first-ever ESG funds for retirement savings plans, seeking to tap into growing demand for ethical investing. Both firms plan to create a series of target-date funds with this focus, according to people familiar with the matter, with BlackRock aiming to debut some later this year.