ESG fund outflows hit record as sustainable investing backlash grows

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Financial Times 1d ago

ESG fund outflows hit record as sustainable investing backlash grows - Financial Times

Quick Summary:

A further 94 European funds were liquidated or merged, while US fund closures hit a record quarterly level of 20.

ESG has been criticised by many on the political right, who argue it prioritises contentious social and political agendas over financial returns, ushering in a form of “woke capitalism”.

The withdrawals have come despite strong buying of conventional funds, particularly in Europe, during the quarter, meaning they were not driven by a broader investor retreat from the market.