Back into the black for SRI and green themed fund sales

Positive sales follow slump in recent months.

Sales of European SRI funds and themed green funds both returned to the black in October after a run of outflows in recent months, according to the latest available figures compiled for Responsible Investor by Lipper FMI, the investment data group. Total sector sales of ‘RI screened’ funds as they are labelled by Lipper FMI, which have undergone an ‘extra-financial’ ESG (environment, social and governance) screen in their stock selection process, was €181m. That followed losses of €1.14bn in September and €192.3m during the month of August. The highest selling ‘RI screened’ fund was French fund manager Axa’s Label Europe Actions fund with €142.7m. The second best seller was also from the Axa stable, the Label Euro Obligations fund, which grossed an estimated €92.4m. Belgium fund manager KBC’s Institutional Fund Global Ethical Defensive 01 fund was third with sales of €88.2m. The largest ‘RI Screened’ fund is French fund manager Amundi’s Tréso ISR fund with €6.5bn in assets. Second is France’s Natixis’ Fonsicav with €5.5bn. Third is Allianz’s Securicash fund with €1.39bn.Sales of green themed and norms-based European RI retail funds were also up during October with overall sales of €77.1m. The fund class, labelled by Lipper FMI as ‘RI Extended’, includes those with multiple ethical exclusions, those following a norms-based strategy and themed climate change and microfinance funds. The positive sales followed losses for the sector of €447.9m in September. French fund manager Ofivalmo’s OFI Trésor ISR fund was the best selling ‘RI Extended’ fund with sales of €116.6m. Second was France’s Crédit Mutuel and their LFP Obligations MT ISR fund with sales of €34.2m. Third was Swiss investment group, Bank Sarasin’s Sarasin Sustainable Equity USA fund with sales of €31.6m. The biggest RI extended fund is Pictet’s Water fund with assets of €2.32bn. Second is Blackrock’s New Energy Fund with assets of €2bn.
Total mainstream equity fund sales for the month of October were €13.5bn.
See downloads (left hand column) for full fund sales stats