Sales of European SRI funds dive as rollercoaster continues

Green sales maintain upswing, but remain dominated by Nordic bond funds.

Sales of European SRI retail funds crashed by just over €2bn in December 2012, continuing their rollercoaster ride this year, according to the latest available figures compiled for Responsible Investor by Lipper FMI, the investment data group. The sales of SRI, or RI Screened funds as they are labelled by Lipper FMI were down by 2.082bn for the month, reversing a €2bn (€1.996bn) rise in assets during November. Only two SRI funds made it to treble figures in terms of new money and market appreciation. Interestingly, two of the top three sellers were emerging markets equities funds. The best seller was French fund manager Amundi’s SG Monétaire Jour ISR fund (SRI cash fund), which took in €233.6m. The second highest riser was Nordea’s Nordea 1 – Emerging Stars Equity Fund, which took in €110.2m. Third was State Street Global Advisors Lux SICAV – SSgA Emerging Markets SRI Enhanced Equity Fund, which rose by €79.5m. In terms of overall size, SRI cash funds make up the biggest five funds in the market.
The biggest SRI retail fund in Europe is presently Amundi’s Tréso Eonia ISR with €25.6bn in assets.Second is French insurer MACIF’s Court Terme ISR, SRI cash fund with €1.89bn. Third is Natixis’ Fonsicav cash fund with €1.42bn. Sales of green themed and norms-based European RI retail fund sales – labelled ‘RI Extended’ by Lipper FMI – enjoyed another healthy month, rising by just over €1bn after a €382.8m boost in November. The stats were once again dominated again by sales of Nordic bond funds. The best selling fund was Storebrand’s Global Kreditt IG fund with receipts of €446m. Second was Nordea’s US Total Return Bond Fund which took in €183.7m. Third was Nordea’s European High Yield Bond fund with €159.5m. The largest green fund is Nordea International Fund – Sekura Fund with €3.47bn in assets. Second is Norway’s Storebrand Stat A with €2.4bn. Third is their Nordea 1 – US Corporate bond Fund with €2.34bn. Mainstream equity fund sales and market appreciation was €13bn over the month.
For top 20 fund sales list see downloadable documents – left hand column