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Finns det någon skillnad i avkastning mellan etiska och traditionella fonder?
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.
2016 (Swedish)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [sv]

Att investera etiskt har de senaste årtionden blivit ett allt mer populärt alternativ bland småsparare och större fondinstitut. De etiska fondernas framväxt har lett till en ökad konkurrens för de traditionellt förvaltade fonderna, och detta har i sin tur inneburit att en diskussion har uppstått kring de etiska fondernas faktiska lönsamhet i förhållande till de traditionella fonderna (Leite, 2014). Syftet med denna studie är att undersöka skillnaden i avkastning mellan traditionellt förvaltade fonder och etiskt förvaltade fonder.Data samlades in från Morningstars databas och urvalet har begränsats till totalt 18 stycken svenska etiska aktiefonder och 33 stycken svenska traditionella aktiefonder, detta resulterade i totalt 510 variabler för historisk fondavkastning under en 10 årsperiod. Fonderna delades sedan in i två fondportföljer baserad på de två olika fondkategorierna. Respektive fondportföljs årliga avkastning undersöktes utifrån olika avkastningsmått. Studien undersökte om det fanns någon statistisk signifikant skillnad mellan de olika måtten med hjälp av de statistiska testerna Two-sample t, ANOVA och Paired T-test.Resultatet av studien visar att det inte finns en signifikant statistisk skillnad i avkastning mellan den etiska portföljen respektive den traditionella portföljen. Många investerare vill nuförtiden placera i en finansiell portfölj som representerar deras individuella värderingar och resultatet från denna studie visar att investerare kan välja att vara etisk på kapitalmarknaden och fortfarande erhålla god avkastning. Att investera etiskt innebär att du skapar ett mervärde som gynnar alla i samhället inklusive dig själv som investerare.

Abstract [en]

Ethical investments has in recent decades become an increasingly popular option among everything from small savers to larger fund institutions. The emergence of ethical funds has led to increased competition for the traditionally managed funds, and this has in turn led to a discussion about the ethical funds actual profitability relative to the traditional funds (Leite, 2014). The purpose of this study is to investigate the difference in yield between the traditionally managed funds and ethically managed funds.The data was collected from the Morningstar database and the selection has been limited to a total of 18 Swedish ethical equity funds and 33 Swedish traditional equity funds, this resulted in a total of 510 variables for historical fund return over a 10 year period. The funds were divided into two fund portfolios based on the two different fund categories. Each fund portfolio's annual return was examined based on various measures of return. The study measured the significant statistical difference between the different measurements using the statistical tests Two-sample t, ANOVA and Paired T-testThe results of the study show that there is no significant statistical difference in yield between the ethical portfolio and the traditional portfolio. Nowadays, many investors want to invest in a financial portfolio representing their individual values and the result from this study shows that investors can choose to be ethical in the financial market and still obtain good financial returns. Investing ethically means creating value that benefits all of society, including yourself as an investor.

Place, publisher, year, edition, pages
2016. , 56 p.
Keyword [en]
Traditional funds, ethical funds, social screening, financial returns, Jensen's alpha, Sharpe Ratio, CAPM
Keyword [sv]
Traditionella fonder, etiska fonder, social screening, finansiell avkastning, Jensens alfa, Sharpekvot, CAPM
National Category
Business Administration
Identifiers
URN: urn:nbn:se:miun:diva-27613OAI: oai:DiVA.org:miun-27613DiVA: diva2:926945
Subject / course
Business Administration FE1
Educational program
BSc Programme in Business and Economics SEKOG 180 higher education credits
Supervisors
Examiners
Available from: 2016-05-10 Created: 2016-05-10 Last updated: 2016-05-10Bibliographically approved

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Citation style
  • apa
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