European retail SRI and green fund sales buck mainstream slide

Cash and bond funds continue to dominate.

Sales of European SRI retail funds bucked a downturn in receipts for mainstream equity funds by putting on almost €2bn (€1.996bn) in assets during November 2012, according to the latest available figures compiled for Responsible Investor by Lipper FMI, the investment data group. The new money was almost entirely made up, however, of assets invested in a French cash fund, Amundi’s Tréso Eonia ISR portfolio, which was re-labelled as an SRI fund and rose by €1.7bn during the month. Mainstream equity fund sales were down for the month, losing €940.3m in November. The sales of SRI, or RI Screened funds as they are labelled by Lipper FMI, were dominated by cash and bond funds. The second highest grossing fund was another French-domiciled money market fund, Allianz’s Securicash SRI fund, with new money totalling €145.6m. Third was Belgian fund manager KBC’s Participation SRI Corporate Bonds fund with €88.2m. The biggest SRI retail fund in Europe is presently Amundi’s Tréso Eonia ISR with €25.5bn inassets. Second is French insurer MACIF’s Court Terme ISR, SRI cash fund with just over €2bn. Third is Natixis’ Fonsicav cash fund with €1.94bn. European retail green fund sales in August were also up during the month. The sales of green themed and norms-based European RI retail fund sales – labelled ‘RI Extended’ by Lipper FMI – rose by €382.8m, dominated again by Nordic bond funds, particularly from funds group Nordea. The biggest seller was the Nordea 1 – US Total Return Bond Fund with €239.3m. Second was Nordea’s Dedicated Investment Fund FIS – US High Yield Fund with €76.9m. Third was their Nordea 1 – European High Yield Bd with €75.3m.
The largest green fund is Nordea International Fund – Sekura Fund with €3.4bn in assets. Second is their Nordea 1 – US Corporate bond Fund with €2.4bn. Third is Norway’s Storebrand Stat A with €2.3bn.
For top 20 fund sales list see downloadable documents – left hand column