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A Billion Euros Shifts Back into SRI Funds as Markets Rise

Green themed funds also up on the back of investor confidence.

by Hugh Wheelan

Date: July 28, 2009

Over a billion euros (€1,068.3m) shifted back into European SRI funds during May as equity markets rose, according to the latest available figures compiled for Responsible Investor by Lipper Feri, the investment data group. Bond funds were among the biggest sellers representing three of the top five asset gatherers during the month. SRI funds or 'RI Screened’ as they are labelled by Feri are those that have undergone an ‘extra financial’ ESG screen in their stock selection process. The largest selling RI Screened fund was French insurer Macif’s short-term SRI fund which took in assets of €173.1m. In second place was Belgian fund manager KBC's Obli Euro bond fund with sales of €128m. Third was London-based environmental fund manager Impax's Dublin-domiciled Environmental Markets equity fund which netted €126m. Inflows intoSRI funds have been volatile in recent months. A total of €25.3m was pulled from the SRI funds universe in March, although the largest selling funds still enjoyed triple-figure inflows. That compared with positive net inflows for the SRI sector of €599m during February.

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