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ESG

Gender diversity funds haemorrhage cash amid anti-ESG backlash

Diversity champions warn the backlash against 'woke investing' is spreading

By Kristen McGachey
Performance might have improved, but funds backing female-led businesses still bled $1.4bn last year
Performance might have improved, but funds backing female-led businesses still bled $1.4bn last year Photo: Getty Images

Gender diversity funds are being shunned by investors despite a rebound in performance, as the backlash against ESG investing rages on.

Global active funds and ETFs backing female-led businesses racked up $1.4bn in net outflows in 2023, according to estimates from Morningstar Direct shared exclusively with Financial News.

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