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Industry Snippets: WSJ - Beleaguered Money Managers Find Bright Spot in ESG
The Wall Street Journal has an article about Record amount flows to funds engaged in socially responsible investing.
A record amount is flowing to investment managers who specialize in socially responsible investing, providing a bright spot for stock pickers who have otherwise struggled to keep client money.
In the first half of the year, U.S. funds that consider environmental, social and governance factors when making new bets attracted a net $8.4 billion, according to data from Morningstar. That is already higher than the previous annual record of $5.4 billion collected during 2018. Clients have now committed $35 billion to what are known as ESG funds since 2013.
Full article (Subscription needed) here