米国のサステナブルファンド、2026年第2四半期に純資金流入へ回帰
専門家の視点
2026年第2四半期、米国のサステナブルファンドは14四半期連続の純流出を経て約30億ドルの純流入を記録し、資産総額は約4000億ドルと過去最高に達しました。ただし、この回復は一つの受動型ファンド、GRIDが約31億ドルを集めたことに支えられており、能動運用型のサステナブルファンドは依然として償還が続いています。つまり、持続可能性への資金回帰ではなく、AI需要と再生可能エネルギーの変動に対応する電力網強化という特定テーマへの集中投資が実態です。同時期の従来型長期ファンドが3560億ドルを集めたのに対し、サステナブルファンド全体の有機成長率は0.8%と市場平均の1.0%を下回っており、カテゴリー全体の需要回復とは言えません。構造的な論点は、サステナブルファンドの物語が「脱炭素全般」から「AI時代の電力インフラ」へ収斂しつつあることです。GRIDの上位保有銘柄であるイートンやシュナイダーエレクトリックがデータセンター向け電気部品で急成長している事実は、資金流入がESG理念ではなく物理的な電力制約への対応に牽引されていることを示します。
The second quarter of 2026 marked a noteworthy moment for US sustainable funds. After 14 consecutive quarters of net outflows, investors added nearly $3 billion to the category, the first quarter of positive flows since the beginning of 2022. Inflows and market appreciation drove assets in sustainable funds to nearly $400 billion, a new high-water mark. Even so, conventional long-term funds continued to attract substantially stronger demand, collecting $356 billion during the quarter, up from $337 billion in the first quarter. Sustainable funds posted an organic growth rate of 0.8%, slightly below the 1.0% organic growth rate for the broader US fund universe. Although the return to positive territory represents a notable shift after more than three years of withdrawals, investor demand focused on a relatively small group of passive strategies, while actively managed sustainable funds continued to experience redemptions. Download the latest on global sustainable fund flows here. One fund powered the recovery. First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index ETF GRID collected $3.1 billion, its fourth consecutive quarter of inflows, for a total of more than $7.5 billion over the past 12 months. The fund targets companies involved in strengthening the electric grid to better support surging demand from artificial intelligence usage and data centers, along with fluctuating supply from renewable energy sources. For instance, top holding Eaton ETN derives the majority of its revenue from selling electrical components for data centers, utilities, and other infrastructure; Schneider Electric SU (another top holding) is a global leader in energy management, electrical distribution, and industrial automation with a key foothold in data centers and networks. Those companies shot up in the first half of 2026: Eaton gained nearly 35%, and Schneider was up 20%. This supported the fund’s 25% gain, which comfortably beat the Morningstar US Market Index’s 10.7% rise. To
本文は配信元の記事から取得した抜粋です。
配信元の記事を読む →