Welcome to the 2018 AFS Annual Meeting, being held this year, in conjunction with FPA in Chicago!
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Tuesday, October 2 • 4:30pm - 6:00pm
P106 - Signaling Effect of Socially Conscious Mandate of Mutual Funds

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The purpose of this paper is to investigate whether having a socially conscious mandate sacrifices financial performance of a mutual fund, as compared to mutual funds that have a comparable average ESG score even without having a responsibility or sustainability mandate. Previous studies have shown that having an intentional socially conscious mandate can limit the investment choices for the mutual funds. This study uses the data of all mutual funds domiciled in the United State that have been assessed by Morningstar® with ESG scores. We study if the risk-adjusted performance with a socially conscious mandate is statistically different from other ESG-rated funds. The second part of the paper investigates whether the differential flow of mutual funds with a socially conscious mandate is statistically different from funds that do not have a socially conscious mandate.

Author(s): Aman Sunder, Jennifer Coombs, Nandita Das, Bernadette Ruf, Dakota Moran

avatar for Aman Sunder

Aman Sunder

Program Chair, College for Financial Planning

Tuesday October 2, 2018 4:30pm - 6:00pm CDT
Michigan 2

Attendees (3)