Actively Managed Funds ‘Bleed' Client Cash in ESG Upheaval [Yahoo! Finance Canada]
BlackRock, Inc. (BLK)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg For 11 of the past 12 quarters, clients have redeemed cash from actively managed funds registered as “promoting” environmental, social and governance goals, otherwise known as Article 8 under European Union regulations. The data, provided by Morningstar Inc., indicates a recalibration is underway in an investing form that from the get-go was supposed to favor the active selection and de-selection of assets. ADVERTISEMENT As active ESG funds “bleed money,” Morningstar's global director of sustainability research, Hortense Bioy, says the managers overseeing such portfolios are now “licking their wounds.” Meanwhile, “passive ESG investments continue to appeal to more investors,” she said in a report published on Tuesday. While active strategies still dominate ESG investing in absolute terms, a rapid adjustment appears to be underway with Morningstar estimating that almost 15% of the EU's strictest ESG fund category, Article 9, is now passive. Just over 5
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