Asset managers in Europe could be forced to pare back ESG spending during a prolonged stock market rout, placing a significant strain on sustainable investment funds, which have been among their best-selling products over the past two years.
ESG funds have been riding high since the onset of the Covid pandemic, with buoyant investor inflows and a bull market helping sustainable assets balloon to €2.3tn at the end of 2021, up from €1.6bn at the end of the previous year, according to Morningstar.
But...
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