ESGee whiz

27 Jan 2022 By Neil Unmack Follow @unmack1

Despite a U.S. greenwashing probe, Germany’s 7 bln euro asset manager DWS is seeing further green inflows. Investors’ zeal for funds that tick ethical boxes is outdoing concerns about their fine print and performance relative to dirty funds. Yet the worries aren’t going away.

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German asset manager DWS said on Jan. 27 that it raised 15 billion euros of net new money from investors in the quarter ending December 2021, with total assets reaching 928 billion euros. It raised 5.9 billion euros of funds linked to environmental, social and governance factors, so-called ESG, up from 5 billion euros in the third quarter of 2021.

The Wall Street Journal reported in August that the U.S. Securities and Exchange Commission is investigating the group for overstating how much it used sustainable investing criteria to manage its assets.

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