ESG funds gains momentum in Indian mutual fund industry

Environment, social and governance (ESG), the flavour of the season from Tokyo to Toronto, has caught the fancy of the local mutual fund industry. At least half a dozen asset management companies – Aditya Birla, ICICI Prudential, Kotak, Invesco India, Quantum India and Mirae Asset – have introduced ESG-based fund plans since October last year and have garnered about Rs 4,900 crore assets under management (AUM). The extended Covid-19 crisis has