The United States has witnessed significant outflows of investment from environmental, social and governance (“ESG”) funds in 2024. This can partially be attributed to the backlash that ESG has been facing, leaving many ESG asset managers at a loss as to how to address the situation.
A report authored by Morningstar indicates that $8.8 billion in net outflows was recorded by U.S. ESG funds during the first quarter of 2024. The bulk of those outflows were from investment funds that are actively managed along with two ETFs run by iShares.
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