All new funds from DWS will be ESG from now on the firm has said.
DWS CEO Asoka Woehrmann has told Barron’s in an interview, “Sustainability is more than a corporate topic, it’s a society topic and an industry topic. Starting in 2021, all the new product initiatives will by default be ESG.”
DWS which has $920 billion under management, says the move applies only to new funds, not to existing funds. Woehrmann added that the move is “very much supported by client flows.” In 2020, about 30% of net new flows were ESG with around 10% of DWS funds now being ESG. Source: Barron’s