From Pensions&Investments, April 22:
Assets in mutual and exchange-traded funds with a climate-related mandate globally rose by 16% in 2023 to $540 billion, according to data collected by financial services firm Morningstar.
The report said the increase was driven by continued inflows, product launches and market appreciation. Europe accounted for 84% of the climate-related assets, while China and the U.S. had market shares of 7% and 6%, respectively.
However, the $40 billion of inflows into climate funds last year represented the lowest levels in four years, according to Morningstar, mostly due to the high level of redemptions from climate solutions, and clean energy and technology strategies, which were “plagued by high interest rates and sticky inflation”, Morningstar said in a report.
The green bond fund category, nearly doubled its asset size in 2023 with a 41% surge, even as the iShares Green Bond Index Fund registered the largest annual outflow of $1.7 billion....
....MUCH MORE
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