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ESG fund launches slump to five-year low

Green fund closures outpace new products for the first time in Q1 2024 as global asset managers hit the brakes

By Kristen McGachey
The backlash to ESG in states such as Texas has led to a plunge in the number of ESG fund launches in the US Jordan Vonderhaar/Bloomberg via Getty Images
The backlash to ESG in states such as Texas has led to a plunge in the number of ESG fund launches in the US Jordan Vonderhaar/Bloomberg via Getty Images

Global ESG fund launches have slumped to a five-year low in a sign that the green investing hype has well and truly fizzled out.

Sustainable fund closures outpaced launches of new green products in the first quarter for the first time in five years, according to data by Morningstar Direct prepared exclusively for Financial News.

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