“Americans cash out of sustainable funds”
May 3, 2024
“U.S. sustainable investment funds, including ETFs, suffered their worst-ever exodus in Q1. They saw $8.8 billion in net outflows, per new data from Morningstar.
Why it matters: That outflow stands in stark contrast to consistent inflows through the first quarter of 2022 — and to the continued net inflows to sustainable funds outside the U.S.
- Sustainable funds are defined by Morningstar as open-end funds and ETFs that focus on sustainability; impact; or ESG factors.
Follow the money: Europe saw $10.9 billion in net inflows in the first quarter of this year — down significantly from a high of $133 billion in the fourth quarter of 2021, but still positive…”
https://www.axios.com/2024/05/02/american-esg-sustainable-funds
This article headline is deceiving. In reality people are cashing out of ESG. The public hates it.