Sales stay positive since start of year while mainstream peers yo-yo.
Sales of European SRI funds remained positive during February this year with net inflows for the sector of €599m and continue to buck the trend of mainstream equity funds which saw withdrawals of €2.8bn over the month, according to the latest available figures compiled for Responsible Investor by Lipper Feri, the investment data group.
The figures suggest that SRI funds continue to benefit from a positive reputation amongst fund clients as the credit crisis has continued. Inflows into SRI funds have stayed positive at the start of 2009 recording net sales in January of €1.1bn just behind that of mainstream equity funds in January with net new money of €1.7bn, although the inflows into mainstream funds have been wiped out by their February slump.
Sales of green investment funds, which do not necessarily screen companies on social or governance issues, have also stayed positive, albeit with relatively small inflows: €50.7m in January and €14.7m in February.
SRI cash funds continued to be the big sellers in February. Allianz’s France based Securicash SRI funds was top seller with estimated net sales of €437.1m. It remains Europe’s biggest SRI fund with assets of almost €2bn.
In second place for sales was BNP Paribas’ Moné Etheis cash fund with sales of €118.2m. Third placed was an equity portfolio, KBC’s EquiPlus Quality Stocks Lookback 03 fund, with sales of €60m.
The European green fund sector is now valued at just under €12bn. US fund manager Blackrock’s New Energy Fund was the best seller of February with net inflows of €28m. Second was Swiss manager Pictet’s Clean Energy fund with receipts of €11.7m Third best seller was French independent sustainability manager Financière de Champlain’s Performance Environnement fund with inflows of €8.2m.
Europe’s biggest green fund is Pictet’s Water fund with €1.966bn followed by Blackrock’s New Energy Fund with €1.961bn.