First ESG MMF Celebrates 1-Year
Just over year ago, we wrote in our daily Crane Data News, the article "DWS ESG Liquidity Goes Live," which marked the debut of the first "ESG" money market fund. As we wrote in our August 13, 2018 News, "DWS Converts Variable NAV to DWS ESG Money Fund, First ESG Offering," the manager formerly known as Deutsche just converted an existing fund into an "ESG" money market fund. A press release put out in September 2018, entitled, "DWS launches first ESG money market fund in the U.S.," tells us "DWS Group today announced the launch of DWS ESG Liquidity Fund (ESGXX), the first money market fund available in the U.S. to apply ESG (Environmental, Social and Governance) criteria. The fund will invest in high-quality, short-term, U.S. dollar-denominated money market instruments paying a fixed, variable or floating interest rate while also filtering for various ESG factors using DWS's proprietary software -- the ESG Engine." Sonelius Kendrick-Smith, Head of Liquidity Solutions, Americas, comments, "As a global asset manager, it is crucial for DWS to enable our clients to invest in a sustainable future by incorporating ESG factors into their global investment process across asset classes. Through the DWS ESG Liquidity Fund, investors will now be able to take advantage of our proprietary ESG Engine software while effectively managing their liquidity." Fiona Bassett, Global Co-Head of Products, tells us, "DWS has more than 20 years of experience as a leader and innovator in the field of sustainable, responsible and impact investing. The launch of the DWS ESG Liquidity Fund, the first ESG money market fund available for investors in the U.S., offers investors the opportunity to gain best-in-class ESG exposure for their liquidity needs and help invest in a sustainable future." For more recent news on ESG funds, see these Crane Data News articles: MFI Intl: European Money Fund Assets Surge Too; BlackRock LEAF; EMFS (8/15/19), August MFI: Assets Surging; Northern's Peter Yi; Confusion Over ESG (8/7/19), Federated Earnings Call Discusses Big MMF Inflows, Rate Cuts and ESG (7/29/19), BlackRock Launches First Offshore ESG MMF; ICS LEAF in EUR, GBP, USD (7/22/19), Money Fund Assets Up 13th Week Straight; Fitch on ESG in Money Funds (7/19/19) and SSGA Goes Live with ESG Money Market Fund; Fitch on Prime MF Inflows (7/3/19).
