ASSET MANAGERS THREATEN TEXAS WITH LOSS OF INVESTMENT IF IT IMPLEMENTS ANTI-TRANS BATHROOM BILL

Global investors who manage more than $11 trillion in assets sent a letter Tuesday urging Texas leaders to abandon plans to pass a bill cracking down on transgender-friendly bathroom policies.

“Bills that deliberately limit the human rights of LGBT people are not only unjustified and unfair, but may have troubling financial implications for the business and investment climate in states, including in Texas,” the letter said.

“Equality, diversity and inclusiveness are fundamental elements of a successful workplace, community, and capital markets system,” said the letter to Gov. Greg Abbott, Lt. Gov. Dan Patrick and House Speaker Joe Straus, R-San Antonio.

The letter — led by New York City Comptroller Scott Stringer and Matthew Patsky, chief executive of Trillium Asset Management — also was signed by 38 other managers who have made long-term investments in companies that do business in Texas.

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