European managers prioritise ESG, unlike US counterparts

Continued evidence of the disparity between attitudes towards ESG by European fund managers and US fund managers has been published – although US managers expect demand for ESG data to increase.

Global Asset Management Survey from Linedata, a data firm, found 63% of European managers identify further ESG integration as a high priority – a figure up from 41% in 2021.

However, only 22% of North American firms and 32% of those within Asia-Pacific (Apac) identified ESG as a high priority for their organisations.

The survey also found managers are expecting ESG data management demands to intensify, regardless of region, with Europe (81%), Apac (60%), and North America (46%) all expecting an increase.

The survey gathered insights from 265 asset owners, aset managers and other investors about a variety of topics, including the finding that ‘efficiency’ was top of the strategic agenda for 57% of asset managers globally.

It also looked at the rising use of AI by asset managers and found 32% of managers are using AI for investment research and 30% for portfolio analysis. However, the number dropped to 20% for middle- and back-office functions like fund accounting and post-trade compliance.

Timothée Raymond, head of innovation and technology at Linedata, said: “[The findings] underscores the urgent need for companies to harness the power of automation and drive digital transformation to optimise processes, boost margins and stay competitive.”

© 2023 funds europe

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