"Smart" money now fleeing from green investments?

Analysis: Big losses at Asia green funds spark move to safety | Reuters

(Reuters) - Big losses at so-called 'green' equities funds this year are halting the proliferation of the once hot investment products in Asia and triggering a shift by investors in some centers such as Japan into safer bond options.

Green equities funds -- a big draw over the past few years on heightened concerns on energy prices and the environment -- have been clobbered as stock market volatility, economic pessimism and falling energy costs have driven investors away from the sector.
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The Deutsche Global Warming Prevention Equity Fund of Deutsche Asset Management (Japan) is down nearly 20 percent in 2010 and has seen its assets drop 36 percent this year to $292 million as of end-August, according to Lipper, a unit of Thomson Reuters.