Can water mutual funds aid sustainable development?

Gbenga Ibikunle and Carmen‐Pilar Martí‐Ballester

International Journal of Finance & Economics, 2022, vol. 27, issue 1, 1173-1190

Abstract: We conduct the first comparative analysis of the financial performance of global water mutual funds with conventional, ecology and natural resources mutual funds. Based on a unique sample of 88 water, 198 ecology, 370 natural resources, and 7,437 conventional mutual funds covering the 2008–2017 period, we contrast the financial performance of these four different fund types. On average, water mutual funds perform comparably to conventional mutual funds and outperform ecology and natural resources funds. The performance dynamics is linked to the state of the economy, such that the outperformance by water mutual funds is not observed when markets are bearish. Overall, fund risk‐adjusted performance is predominantly driven by investor activity, especially with regards to their perception of environmental regulatory risk profiles of funds' constituents.

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://doi.org/10.1002/ijfe.2207

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:ijfiec:v:27:y:2022:i:1:p:1173-1190

Ordering information: This journal article can be ordered from
http://jws-edcv.wile ... PRINT_ISSN=1076-9307

Access Statistics for this article

International Journal of Finance & Economics is currently edited by Mark P. Taylor, Keith Cuthbertson and Michael P. Dooley

More articles in International Journal of Finance & Economics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().