SRI fund sales bounce back while green funds remain on a roll

RI’s regular look at European retail fund sales figures.

Both RI and green-themed European retail funds recorded a strong month of sales and asset growth during April this year, according to the latest available figures compiled for Responsible Investor by Lipper FMI, the investment data group. The news was a particular tonic for ‘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. RI Screened funds have been on a rollercoaster ride in terms of sales in recent months and took a beating in March with the sector losing more than €1bn in assets (€1.06bn), although that slide mirrored a bad month in general for mainstream equity funds, which were down €9m for the month, a rare period in the red. For April, the RI screened funds sector took in €555.2m in assets. The best selling fund was Natixis’ Fonsicav money market fund with sales of €327.8m. Second was Macif’s Court Terme ISR money market fund with sales of €156.4m. Third was SAM’s Smart Energy fund, an equities fund in renewable energy and climate change solutions with sales of €91.4m. The biggest RI Screened fund is Amundi’s Tréso ISR fund with €7.4bn. Second is Natixis’ Fonsicav with €5.99bn.Green themed and norms-based European RI retail funds, however, remained on a roll during April. 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. Sales for the RI Extended sector were positive at €626.5m. That followed strong sales in March with total sector sales of €742.3m and a positive February with sector receipts of €764.7m. The biggest selling RI Extended fund in April was French manager Ofivalmo’s cash fund, OFI Trésor, with receipts of €318.3m. Second was Blackrock’s New Energy Fund with €117.1m. Third was alternatives house Lyxor’s ETF New Energy, part of the Société Générale group, with sales of €105.9m. The biggest RI Extended fund is Pictet’s Water Fund with €2.3bn in assets. Second is Blackrock’s New Energy Fund with €2bn. Third is Storebrand’s Global Stat fund with €1.65bn. Total mainstream equity fund sales for April came in at €12.9bn.

See downloadable documents (left hand column) for top funds sales chart