He does not regard an ESG fund being a catch-all as a problem, as he thinks all fund managers that are doing a good job for investors need to be using ESG criteria as part of their investment process.
He says that classifying funds makes it harder for such generalists to operate, as they drive clients towards the more niche products, even if this is not the most suitable outcome for them.
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David Thorpe is special projects editor of FTAdviser
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