Assets in sustainable funds grew 12% globally to $2.24 trillion at the end of June, according to a report by Morningstar.
The report examined global flows in 4,929 sustainable open-end and exchange-traded mutual funds during the second quarter. While inflows to the funds fell 24% to $139 billion globally from an all-time high of $184 billion in the first quarter, asset growth remained strong, Morningstar said.
Europe remains by far the most developed and diverse ESG market, accounting for 82% of global assets at $1.83 trillion, followed by the United States with 14%, at $304 billion.
U.S. sustainable active funds remained on a positive trend, Morningstar said, attracting a record $8.4 billion. U.S. sustainable passive funds attracted net inflows of $9.1 billion for the period, which represented 52% of all U.S. sustainable flows, compared with 69% in the first quarter.
Globally, 177 new sustainable products were launched during the second quarter, down from 215 and 226 launches in the first quarter and 226 launches in the fourth quarter of 2020. The United States saw 25 new sustainable products.
MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.
Wealth management unit sees inflows of $23 billion.
Deal will give US investment bank a foothold in lucrative European market.
New report examines the impact that the initiative has had on philanthropy.
Few feel confident that they will meet their retirement goals.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
