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Bailey McCann, Opalesque New York:

New data shows that the number of sustainable funds offered in Europe has doubled over the past three years. Sustainable fund products attracted 52% of all net new flows in 2020, and reflected 11% of total net assets domiciled in Europe at the end of the year.

The data comes from the first annual European Sustainable Investment Funds Study by Morningstar and zeb, powered by the Association of the Luxembourg Fund Industry (ALFI).The study aims to provide a snapshot on how sustainability objectives and the respective legislative interventions have shaped the fund industry in Europe.

"The European sustainable investment landscape continues evolving extremely rapidly. Record ESG fund flows, assets, and product development activity, combined with the most ambitious regulatory agenda, all herald a new era for sustainable investing in Europe," said Hortense Bioy, Global Director of Sustainability Research, Manager Research at Morningstar. "Asset managers have started reporting high numbers of 'green' funds in accordance with the Sustainable Finance Disclosure Regulation (SFDR). Interpretations of the new regulation vary and the debate around what constitutes a sustainable investment is far from being settled. But we can confidently expect that, from 11% today, ESG funds will be representing a much larger share of the overall fund market in the coming years."

According to the findings, Equity remains the top asset class of sustainabl......................

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