Last year, investors pulled money out of U.S. mutual funds and ETFs, to the tune of $370 billion — the first occasion of net redemptions since Morningstar began tracking sales in 1993.
But that wasn’t the case for a category that has gotten more than its share of attention recently. Sustainable funds saw lower inflows than usual but still raked in $3.1 billion, figures from the data and ratings provider show.
Such funds, which seriously consider various environmental, social and governance, or ESG, factors, have grown in popularity. Though sustainable investing has existed in some form for nearly 50 years, it has just recently become vilified by some conservative groups and politicians, who have cast it as a major threat to democracy.
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