USA fact of the day

Funds marketed with a sustainable label were hit with $12.4bn in net outflows in the US in the past 12 months even as green funds in Europe added $126.3bn, according to the data provider Morningstar.

The rift between the jurisdictions is a sign that the political backlash against asset managers who take a position on environmental, social and governance issues in the US have started to dampen appetite for ESG strategies, analysts say.

Here is more from Kenza Bryan at the FT.