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ESG selloff accelerates in UK (2023)
| Environmental, social, and corporate governance |
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For months, ESG funds have experienced consistent outflows in the United States while generally experiencing modest quarterly inflows in Europe since the start of 2022. The U.K. was a mixed bag, but recent data from Calastone showed that the country’s investors were net sellers of ESG funds in August 2023 for the fourth straight month:
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Investors in Britain dumped both stocks and bonds in August as they continued to opt for the safety of cash and money-market funds, according to data from fund network Calastone published on Tuesday. Funds focused on environmental, social and governance issues (ESG) also saw a fourth consecutive month of net selling, down 953 million pounds - taking the total pulled from such funds to nearly 2 billion pounds since May. … Asset managers, which had previously cashed in on a surge in demand for ESG funds, should take note of the developing sell-off, said Calastone's Glyn. “The move out of ESG funds has gathered pace in a remarkable reversal after the boom in recent years. Four months of outflows signals a new trend emerging that fund houses will have to work hard to counteract.”[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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