Boosted by the pandemic, the Environment Social and Governance (ESG)-focused mutual fund assets have grown 4.7 times between November 2019 and November 2021 with the cumulative AUM crossing Rs 12,320 crore among 10 funds, and is on course to grow much bigger as more such schemes are being launched, says a report.
However, this AUM is only a paltry 0.3 per cent of the over Rs 38.45 lakh crore mutual funds industry as of end-November 2021 and is only a negligible portion of the global fund pool of $35.4 trillion as of end 2020.
