Mutual funds that broadly support sustainability saw inflows of $45.6 billion during the tumultuous first quarter, compared with outflows of $384.7 billion for mutual funds overall, according to a report from Morningstar Inc.
In its first report on global sustainable fund flows, Morningstar found global demand for funds that follow environmental, social and governance principles proved resilient amid the COVID-19 market sell-off.
The report notes that global sustainable fund assets stood at $841 billion as of end of March, down 12% from an all-time high of $960 billion at the close of 2019. Assets in the global fund universe took a greater hit, declining by 18%.
The report also found that Europe continues to dominate the space, accounting for 76% of total sustainable offerings and 81% of ESG assets, although investor interest in other regions is growing. The U.S. accounted for a higher proportion of global inflows compared with previous quarters.
The leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.
Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."
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IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.
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