Dew Person in Charge denies accusations.

Deutsche Asset Management (DWS), a leading fund company, is currently under investigation by the Securities and Exchange Commission (SEC) and the federal prosecutor's office in the U.S. for allegations about managing assets sustainably according to Environmental, Social, and Governance (ESG) criteria.

In response to these allegations, DWS has published a press release, emphasizing their "long tradition in sustainable and responsible investing." The company insists that the disclosures in their annual reports are accurate.

According to DWS's 2020 annual report (page 106), approximately 58 billion euros had a "specific ESG approach." This includes passive and index-linked investments, which total 75.6 billion euros, as reported by the company.

On the other hand, DWS reported a total of 459.2 billion euros for "portfolios with an ESG integration approach." These are actively managed funds covered by ESG data by at least 90%.

However, DWS has stated that they have not counted ESG-integrated funds as ESG-specific funds. The exact assets under management reported by DWS for so-called ESG-specific funds in 2020 amounted to approximately 69 billion euros.

The SEC is currently investigating whether the numbers reported by DWS are accurate. In their response, DWS explains the difference between ESG-integrated funds and ESG-specific funds.

DWS has defined ESG as a cornerstone of their strategy and aims to be a leading ESG asset manager. Their response to the allegations also includes a statement about their commitment to sustainable and responsible investing.

For more information, you can find DWS's full response in their press release here. The investigation is ongoing, and updates will be provided as more information becomes available.