2Q26 Sustainability Fund Update: Energy Transition Tops Thematic Inflows; Article 9 and US Funds Return to Net Inflows

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2Q26 Sustainability Fund Update: Energy Transition Tops Thematic Inflows; Article 9 and US Funds Return to Net Inflows

Global Foundation

July 30, 2026 04:00 AM GMT

Morgan Stanley & Co. International plc+MSustainability Arushi Agarwal, CFA

Equity Strategist

2Q26 Sustainability Fund Arushi.Agarwal1@morganstanley.comRachel Fletcher, Ph.D. +44 20 7677-3944

Rachel.Fletcher@morganstanley.com +44 20 7677-4089

Update: Energy Transition Tops Morgan Stanley & Co. LLC

Stephen C Byrd

Equity AnalystThematic Inflows; Article 9 and Stephen.Byrd@morganstanley.com +1 212 761-3865

Morgan Stanley Asia Limited+US Funds Return to Net Inflows Ehsernta Fu

2Q26 marked several firsts: Article 9 funds returned to net Ehsernta.Fu@morganstanley.com +852 3963-3711

inflows, US sustainable funds saw their first inflows in over a Morgan Stanley Australia Limited+

Rob Koh

year, and Energy Transition led thematic flows. IT exposure rose Equity Analyst

sharply, with ASML the largest active overweight. Rob.Koh@morganstanley.com +61 3 9256-8932MArticle 9 funds returned to net inflows in 2Q26, their first positive quarter after

a prolonged run of redemptions. SFDR Article 9 and 8 AUM rose 9% QoQ to

$10.7tn, with aggregate net inflows of $111bn. Article 9 attracted $0.8bn, led by

fixed income funds, while Article 8 drew $110bn. Both active and passive strategies

recorded inflows, with active strategies accounting for the majority. Equity funds

delivered strong absolute returns and outperformed broader equity funds, although

they lagged MSCI ACWI. Fixed income funds also gained but underperformed

broader fixed income funds. SFDR Equity AUM penetration is ~48% of total

European equity AUM.

Global Sustainable Investment funds remained in positive territory, with the US