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PwC publishes ESG trends for 2022

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PwC Luxembourg has released the fourth edition of the ESG Mutual Funds Poster showcasing ESG growth trends for the 2022 calendar year. 

The research-based poster covers all markets that have adopted the Sustainable Financial Disclosure Regulation (SFDR) framework to define ESG.

The poster supplements and updates the data presented in “2022: The growth opportunity of the century,” the first report in PwC Luxembourg’s Sustainable Finance series and aims to help stakeholders in the asset and wealth management (AWM) industry keep track of the latest ESG developments.

Highlights from the poster include:

Top five asset managers by AuM of Article 8 funds: BlackRock topped the charts for asset managers by Article 8 funds, followed by Amundi, DWS, BNP Paribas and Goldman Sachs.

Top five asset managers by number of Article 8 funds: Amundi leads with 451, followed by BNP Paribas at 254, DWS at 242, Eurizon Asset management with 203 and BlackRock with 191.

Top five asset managers by AuM of Article 9 funds: Pictet came in first place in the category of Article 9 funds, followed by Candriam, Handelsbanken, BNP Paribas and Amundi.

Top five asset managers by number of Article 9 funds: Amundi leads the group in the Article 9 category as well with 33 Article 9 funds, followed by Candriam with 30, Mirova with 27, Axa Investment Managers with 22 and CPR Asset Management with 20.

Active/Passive split by number of Article 8 and 9 Funds: There were 8,216 Article 8 funds in the active category, with 959 in the passive category. For Article 9 funds, the active number was 876, with 103 passive funds.

Top EU ESG funds domiciles by AuM as of end-2022: In terms of Article 8 funds, Luxembourg came in first, Ireland came in second, followed by France, Sweden, and Germany. A similar outcome with Article 9 funds meant that Luxembourg topped the charts, followed by France, Ireland, Sweden, and the Netherlands.

Top EU ESG Funds in terms of 2022 mutual fund net flows: In the Article 8 funds category, BlackRock topped the charts securing the first two positions, followed by Legal & General, Goldman Sachs and Insight. For Article 9 funds, Candriam came in at the top of the chart, followed by Eurizon Asset Management, ASR, Handelsbanken and Swisscanto.

Top EU ESG Funds in terms of 2022 ETF net flows: For Article 8 funds, BlackRock dominated the top five, coming in first and second place, followed by State Street Global Advisors, and once again with BlackRock in fourth and fifth place. In terms of Article 9 funds, Fidelity International came in first, followed by UBS, Legal & General (with the third and fifth place), and J.P. Morgan.

Frédéric Vonner, Partner and Sustainable Finance & Sustainability Leader at PwC Luxembourg says: “In a context of economic and geopolitical turmoil, the number of ESG funds increased to 10,154 in the second half of 2022, carried by strong growth in the number of Article 8 funds which more than made up for the slight reduction in Article 9 funds. The year saw many Article 9 funds being reclassified to the broader Article 8 category due regulatory uncertainty. As the SFDR and other sustainability-related regulations continue to evolve, and as regulatory authorities refine their approach towards enforcing them, asset managers in the EU will have to continuously adapt to the changing regulatory landscape.”

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