Morningstar has removed more than 1,200 funds totalling assets of $1.4trn from its European sustainable universe list after a review of disclosures provided to investors in annual reports and prospectuses was carried out.
The data provider targeted funds with sustainability-linked fund names and those with objectives listed in Key Investor Information Documents (KIIDs) relating to ESG. It follows a report published in November by Morningstar after the EU's rules on sustainable disclosure were enforced in March 2021, revealing that the European sustainable fund universe had grown 65% between June and September. However, according to Morningstar data provided to the Financial Times, assets under management of funds Morningstar considered to be genuinely sustainable at the end of September, dropped from $...
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