
Assets under management of funds Morningstar considered to be genuinely sustainable at the end of September dropped from $3.4trn to $2.03trn.
Last week, reports revealed Morningstar had removed over 1,200 funds totalling assets of $1.4trn from its European sustainable universe list, after a review of disclosures provided to investors in annual reports and prospectuses was carried out.
The data provider targeted funds with sustainability-linked fund names and those with objectives listed in Key Investor Information Documents (KIIDs) relating to ESG. Five funds ejected from ii Super 60 following Morningstar makeover It follows a report published in November by Morningstar after the EU's rules on sustainable disclosure were enforced in March 2021, revealing that the European sustainable fund universe had grown 65% between June and September. However, according to Morningstar data provided to the Financial Times, assets under management of funds Morningstar consider...
To continue reading this article...
Join Investment Week
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes