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Are Sri Funds Different From Non-Sri Funds, From A Financial Asset Perspective?: Evidence From Some Australian Sri Funds, Ingebjørg Kristoffersen
Are Sri Funds Different From Non-Sri Funds, From A Financial Asset Perspective?: Evidence From Some Australian Sri Funds, Ingebjørg Kristoffersen
Theses : Honours
Socially Responsible Investment (SRI) has seen a remarkable growth in recent years – primarily in the US and UK, but also in other markets including Australia. This growth, along with the development of corporate social responsibility, is suggested to be a result of increased awareness in social, environment and human rights issues. The literature offers several suggestions as to how SRIs and SRI funds may differ from other investments, as financial assets. It has been suggested that SRIs are more likely to represent smaller stocks, and also more likely represent growth rather than value stocks compared to non-SRIs. Furthermore, different …
Finding The True Performance Of Australian Managed Funds, Victor Soucik
Finding The True Performance Of Australian Managed Funds, Victor Soucik
Theses: Doctorates and Masters
When making conclusions about the performance of managed funds, it is critical that the framework in which such performance is measured provides an accurate and unbiased environment. In this thesis I search for true performance of the two major classes of funds- equity as well as fixed interest managed funds. Focusing, first on the former class, I examine five measurement models across three risk-free proxies, nine benchmarks proposed by the extant literature (covering conditional and unconditional as well as single and multi factor definitions) and over three independent periods in an effort to identity (in a consistent setting) the most …
The Use And Usefulness Of Managed Fund Ratings In Australia, Paul Gerrans
The Use And Usefulness Of Managed Fund Ratings In Australia, Paul Gerrans
Theses: Doctorates and Masters
Managed fund ratings have become an increasingly available piece of information to guide choice of managed funds. From the perspective of modem portfolio theory and specifically within the efficient markets paradigm, the value of such information is questionable. No profitable relationship should be able to be demonstrated between a fund rating and its subsequent performance. This thesis investigates the relationship between fund ratings and subsequent performance using Morningstar ratings, the most prominent Australian rating provider, for two of the largest and most important groups of managed funds. A positive relationship between a fund's star rating, its quantitative and qualitative components, …