Wayne Gretzky, the great hockey player, said, “I skate to where the puck is going to be, not where it has been.” This quote certainly applies to Environmental, Social and Governance (ESG) and Socially Responsible Investing (SRI) investing.
Are you skating in the right direction?
The total US-domiciled assets under management using SRI strategies grew from $8.7 trillion at the start of 2016 to $12.0 trillion at the start of 2018, an increase of 38 percent. This represents 26 percent—or 1 in 4 dollars—of the $46.6 trillion in total US assets under professional management.
Source: https://www.ussif.org/files/Trends/Trends 2018 executive summary FINAL.pdf;
Graph Source: US SIF Foundation.
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The universe of acceptable investments for ESG and SRI funds may be limited as compared to other funds. Because these funds do not invest in companies that do not meet their ESG or SRI criteria, and may sell portfolio companies that subsequently violate their screens, they may be riskier than other funds that invest in a broader array of securities.