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.

See also  China’s capital outflows surge, weakening yuan, straining economy, and unsettling investors worldwide.

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.

https://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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