- US ESG funds had $8.8 billion of withdrawals in first quarter
- Global inflows were a modest $900 million, buoyed by Europe
US fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified.
Client withdrawals from US funds targeting environmental, social and governance goals reached $8.8 billion in the first three months of 2024, according to fresh data compiled by Morningstar Inc. That stood in stark contrast to the roughly $11 billion of inflows into ESG funds in Europe, where sustainable investing regulations are far more entrenched.
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