US Fund Managers With ESG Mandates Have Worst-Ever Outflows
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 …