![]() South Korea-domiciled funds saw inflows of $20m bucking a trend of outflows over the previous consecutive four quarters. Climate remained the most popular sustainability theme among new product launches, both in Europe and the US.” AsiaĮxcluding China, the Asia ex-Japan region saw inflows of $172m into sustainable funds in Q2, driven by Taiwan-domiciled funds which saw inflows of $307m. Hortense Bioy (pictured), global director of sustainability research at Morningstar and member of the ESG Clarity Committee, said: “The second quarter saw reduced inflows as a result of the continuously challenging macro backdrop… ESG funds continued to hold up better than the rest of the market, which saw net outflows. ![]() Global sustainable fund launches per quarter However, Morningstar said product development in the US continued its momentum. Product development also continued to slow with an estimated 106 new products coming to market – the number of fresh offerings in Europe drove this decline with a slump of almost 28% since Q1. ![]() The decelerated growth in sustainable funds inflows was seen across the regions analysed by Morningstar, however, assets under management are slowly climbing back towards historic highs – AUM hit nearly $2.8trn at the end of June, closer to the record level of $3trn seen at the end of 2021. ![]() In Q1 the wider universe saw inflows of $77bn. In contrast, the overall global fund universe returned to outflows in Q2 with $37bn exiting amid the continued challenging macro backdrop. In the Global Sustainable Fund Flows: Q2 2023 in Review, Morningstar said global sustainable funds attracted $18bn in net new money during the quarter, lower than the $31bn seen in Q1 with the report citing “sticky inflation, rising interest rates and recession fears” as reasons for why investors are pulling their cash from funds. ![]()
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