Oh, not this ESG stuff again! Never mind.
'But it's from Detlef and the gang, boss!'
I know, Voice, I know. That's why we're covering it. But if it was from anyone else ... do you know what I mean?
'Yeah.'
Anyway ...
The assets under management in the European fund industry declined over the course of the year 2022 from €15.3 tr at the end of December 2021 to €13.0 tr at the end of September 2022.
49.30% of the overall assets under management were held by ESG-related funds.
The majority of ESG-related assets were held by mutual funds and ETFs which are aligned to article 8 (€5.0 tr).
ESG-related money market funds (-€93.1 bn) faced outflows while ESG-related long-term products enjoyed shy overall inflows of €0.3 bn over of the first nine months of 2022.
Mixed-assets (+€26.8 bn) were the best-selling asset type for ESG-related products overall over the course of the first nine months of 2022.
ESG-related mutual funds and ETFs which are not classified by SFDR enjoyed the highest inflows (+€52.2 bn) for the first nine months of 2022.
European investors preferred passive ESG-related products over actively managed mutual funds over the course of the first nine months of 2022.
Fine. Whatever. I mean ... do you know what I mean???
Anyway ...
'Where's Detlef?!'
Christ! Be patient. Here he is!!! -
Detlef Glow, Head of EMEA Research at Refinitiv Lipper, comments: "It was not surprising that the year 2022 so far has been in general a negative period for the European fund industry given the geopolitical situation in Europe, the still ongoing The Thing, disrupted delivery chains, rising inflation, increasing interest rates, and the resulting sluggish market environment. Within this market environment and given the economic uncertainties, one would expect that European investors sold long-term funds and bought money market products. Therefore, it is somewhat surprising that European investors sold money market products, which are normally considered safe-haven investments."
Nice one, son! Keep up the good work! 'Don't let the bastards get you down, Detlef!' What bastards, Voice?! 'I don't know. It's just something you say in these situations, isn't it?' Well, not really. There aren't any bastards getting Detlef down. 'I suppose not.' And in the old days I would have said that he was, you know ... flying high in the friendly astral sky. 'Yes!' But - as you know - those days are over.
Anyway ...
ENDS
...
Anything else?
It's hard to say.
I mean ... do I just imagine that there is something else ... most of the time?
I really don't know.
So ...
'Imagine something now, Mikey.'
No. I don't want to.
'Oh.'
So ...
'Laters?'
Not yet! What's the rush, Voice?
'There is no rush.'
Exactly. There's no rush. We can take our time.
Lat ...
'You nearly said it!
Oh, nearly.
'When will you say it, boss?'
Soon.
When I'm ready.
When I'm in the mood for it.
'You want to build up to it.'
Yes.
Okay, okay.
Laters!
