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A 91% Asset Plunge Hits a BlackRock Fund of Sustainable EM Stocks

  • LDEM lost more than $730 million in assets in two days
  • Fund was the second-biggest of emerging-market ESG shares
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What was once the second-biggest exchange-traded fund investing in sustainable emerging-market companies just became a shadow of its former self.

In the two days leading up to Christmas Eve, the iShares ESG MSCI EM Leaders ETF (LDEM) lost 91% of its investments, leaving its total assets depleted at about $69 million, compared with $803 million on Dec. 21. That’s the biggest two-day outflow for a developing-nation ETF this year, according to data compiled by Bloomberg.