From Reuters, October 9/10:
- Global renewable energy funds see Q3 $1.4 bln outflow
- Move only partially reverses big H1 inflows
- Sector assets down to $65.4 bln - LSEG Lipper data
BENGALURU/LONDON, Oct 9 (Reuters) - Investors ditched renewable energy funds at the fastest rate on record in the three months to end-September as cleaner energy shares took a beating from higher interest rates and soaring material costs, which are squeezing profit margins.
Renewable energy funds globally suffered a net outflow of $1.4 billion in the July-September quarter, the biggest ever quarterly outflow, according to LSEG Lipper data.However, the outflows only partially reversed the trend for the first half of 2023 when investors added a net $3.36 billion, the data showed.
The sector's total assets under management now stand at $65.4 billion, a 23% decline from end-June, according to the data.....*****....Investors have been exiting traditional energy funds, too, but the rate has slowed - net outflows reached $438 million in the last quarter compared with $3.32 billion in the previous three months....
....MUCH MORE
