Industry faces a ‘critical juncture’ amid strong demand, high valuations and record levels of uninvested capital. : The EU’s first-ever blacklist of tax havens has given politicians and pension funds another chance to consider the ethics of investing via opaque or tax-light locations Carillion, the UK construction company that collapsed recently, reminds us, once again, that investment is yet far from being a credible profession For bond investors, who lack a shareholder vote, covenants are the G (or corporate governance) in ESG US equities are eight years into an equity bull market, which must end.