US Fund Managers With ESG Mandates Have Worst-Ever Outflows

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  • 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.

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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.

www.bloomberg.com/news/articles/2024-04-25/us-fund-managers-with-esg-mandates-hit-by-worst-ever-outflows?utm_source=website&utm_medium=share&utm_campaign=twitter?sref=F4maT3mM

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