ESG asset growth has outpaced that of U.S. and European equity funds over the past 12 months, BNP Paribas said.
With global growth slowing, companies' ability to continue paying dividends is coming under pressure.
After underperformance and outflows, European equities look more appealing, said JPMorgan's strategists.
Their “bear-market checklist” shows just 3.5 red flags out of a possible 18.