One financial expert said it isn’t a surprise that Vance’s portfolio includes both the oil-focused mutual fund and an investment in the company that services EV charging stations.
“Anyone with a really large portfolio is going to be pretty well-diversified across a lot of asset classes, including those that ESG investors might overweight,” said Daniel Garrett, an assistant professor of finance at the University of Pennsylvania’s Wharton School.
He added that smart investors are not hung up on political rhetoric, and that they often boast a portfolio that includes sustainable businesses because they are profitable and occupy an essential piece of the marketplace. At the same time, many investors hold some fossil fuel assets to hedge both sides of the energy future, he said.
