Cash flows into US sustainable funds plummeted last year as the broader market took a beating.
ESG exchange-traded funds in the US aren’t faring any better in 2023.
“Is it true that we were probably overbought coming into 2022? Absolutely,” Peter Krull, partner and director of sustainable investing at Earth Equity Advisors, a Prime Capital Investment Advisors company, said in an interview. “Valuations on the growth side were certainly above what they should have been.”
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