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Bachelor Thesis from the year 2017 in the subject Business economics - Investment and Finance, grade: 1.3, University of Frankfurt (Main), language: English, abstract: This bachelor thesis investigates different determinants for absolute and relative fund flows in socially responsible investment (SRI) funds and conventional funds on the German Market. My multivariate analyses study the flow performance relationship, but also incorporate persistence in flows, expenses and typical fund characteristics such as age, total net assets and number of share classes. I find a high dependency of flows on…mehr

Produktbeschreibung
Bachelor Thesis from the year 2017 in the subject Business economics - Investment and Finance, grade: 1.3, University of Frankfurt (Main), language: English, abstract: This bachelor thesis investigates different determinants for absolute and relative fund flows in socially responsible investment (SRI) funds and conventional funds on the German Market. My multivariate analyses study the flow performance relationship, but also incorporate persistence in flows, expenses and typical fund characteristics such as age, total net assets and number of share classes. I find a high dependency of flows on prior returns from funds known as a return chasing behaviour. My model shows different flow-performance relations depending on the kind of sustainability fund and how the perception of investors changed over time towards being more sensitive regarding SRI criteria. Most importantly there exists a strong momentum effect for funds shown with persistent flows in Germany over different periods of time.
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