Do Finnish mutual fund investors value sustainability? An experiment examining ranking and fund flows
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School of Business |
Bachelor's thesis
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Date
2019
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Mcode
Degree programme
Rahoitus
Language
en
Pages
28
Series
Abstract
In this paper I present causal evidence that Finnish mutual fund investors place a positive value on sustainability. For an average Finnish mutual fund that means approximately over 63 000 € as a monthly net flow based on its Portfolio sustainability score. The evidences suggest that this observed flow is not due to higher portfolio returns but rather irrational performance expectations and non-pecuniary motives to invest in higher sustainability funds.Description
Thesis advisor
Kokkonen, JoniKeywords
Sustainable investing, Finnish mutual funds, investor decision, Value creation