Mexican Funds record withdrawals of US$223 million

Investors withdrew nearly US$223 million from Mexican mutual funds with an explicit sustainability mandate—over a 12-month period ending in June 2026—according to data from Morningstar. The universe analyzed consists of 15 funds that formally establish environmental, social, or corporate governance objectives—known as ESG criteria—in their investment prospectuses.

In other words, the sample does not include all funds that may consider sustainability factors when selecting assets, but only those that expressly incorporate that mandate into their documents.

However, as of the end of June, these funds managed US$883 million, a year-over-year decrease of US$14 million, equivalent to 13.66%. Furthermore, during the same period, they recorded negative net flows of US$222 million.

The difference between the outflow of funds and the reduction in assets indicates that the portfolios’ positive returns partially offset investor withdrawals. Overall, the funds achieved a weighted annual net return of 8.26%, although results varied significantly across different strategies.

Although these are funds registered and operated in Mexico, the majority of their investments are not concentrated in Mexican companies. The United States accounted for 51.4% of the portfolios’ assets, followed by Mexico at 22.5%; Canada at 7.5%; France at 3%; the United Kingdom at 2.9%; and Japan at 2.8%.

A portion of the funds is invested indirectly through exchange-traded funds (ETFs). The iShares ESG Aware MSCI USA ETF accounted for 5.1% of the portfolios, while other ETFs specializing in green bonds, developed markets, and companies with strong ESG profiles rounded out the top holdings.