Flows are rotating into SAF.PA while Energy Transition & Infrastructure weakens

🇪🇺 Equities are seeing a clear flow shift away from Energy Transition & Infrastructure, with $VER-VI shedding $22M, while inflows are concentrated into SAF.PA, which attracted $170M today. The divergence underscores a rotation from thematic plays into more defensive or yield-oriented stocks. The top inflow into SAF.PA confirms the market’s preference for stable, dividend-paying European utilities amid ongoing macro uncertainty, while the outflows from energy transition names suggest risk appetite is waning for high-growth, policy-dependent sectors. The key next test will be whether this flow pattern broadens beyond SAF.PA or remains concentrated, indicating a cautious pause rather than a sustained rotation.