Goldman Sachs closes ESG fund (2023)
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ESG funds continue to close as American investors continue to sell their ESG fund holdings. Goldman Sachs Asset Management last week closed its Large-Cap Climate-Change ESG fund:
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Goldman Sachs, the ETF issuer with $30.6 billion in 41 ETFs, is shuttering a $7.64 million climate equity exchange-traded fund two years after its launch as ESG funds come under regulatory scrutiny and face conservative political backlash. The asset manager announced they were closing the Goldman Sachs ActiveBeta Paris-Aligned Climate U.S. Large Cap Equity ETF (GPAL) on Dec. 12. The fund is expected to liquidate in mid-January, according to the firm’s press release. … While ESG investing surged in popularity in 2021, the sector has since struggled as it has faced conservative pushback. There were more ESG closures than launches in the third quarter of this year, according to data from Morningstar. ESG ETFs also saw about $2.7 billion in outflows in the third quarter.[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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