Article 8 Funds Suffer Q1 2022 Outflows

Funds categorised as Article 8 under Europe’s Sustainable Finance Disclosure Regulation suffered net outflows in Q1 2022, according to Morningstar, while Article 9 funds, which typically have stronger sustainability credentials, continued to experience healthy inflows. Article 8 funds saw net outflows of €3.3 billion, said the data provider, but Article 9 funds registered inflows of €8.6 billion, against a backdrop of inflationary pressure, uncertainties around interest rates, and geopolitical concerns following Russia’s invasion of Ukraine. Collectively, Article 8 and Article 9 fund assets grew by 8.5% in Q1 2022 to €4.18 trillion. As a result, the two fund groups accounted for a bigger share of the EU universe at the end of March (45.6%), than three months earlier (42.4%). Product development fell by almost half, with an estimated 138 new Article 8 and Article 9 fund launches, representing 47% of total new European funds over the period.

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