September quarter recovery by sustainable funds
Australia’s sustainable funds showed a modest recovery in the September quarter after a difficult start to 2024, according to the latest analysis from Morningstar.
Morningstar’s third quarter Global Sustainable Funds Flows analysis said there were positive net flows into the Australian and New Zealand sustainable funds universe of $US640 million.
It noted that this followed revised outflows of $US555 million in the second quarter.
It said flows into active strategies were positive, netting almost $US267 million while flowsi nto passive funds continued to be positive garnering $US373 million.
Morningstar said the uptick in flows into sustainable funds mirrored the continued recovery of the broader fund market in Australasia.
The Morningstar analysis said that the Australian sustainable funds market remained quite concentrated with the top 10 firms accounting for almost two-thirds of total assets in sustainable funds.
The analysis also pointed to the fact that Dimensional Fund Advisors and Betashares account for more than a quarter of the market.
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