Kostar det att säkerställa den gröna investeringen?

Sammanfattning: Title Kostar det att säkerställa den gröna investeringen? En studie om svenska gröna fonders finansiella prestation under perioden 2012 till 2016 Seminar date 2020-01-16 Course FEKH89, Examensarbete i finansiering på kandidatnivå, 15 Högskolepoäng Authors Ebba Giolitti, Axel Nilsén & Kasper Simonsson Advisor Göran Anderson Key words Performance evaluations, Swedish focus, green funds, conventional funds, risk adjusted return Purpose The purpose of the study is to examine whether an investor can expect a similar risk-adjusted return by choosing a Swedish secured green fund alternative, instead of a similar conventional alternative. Methodology The study is made with a quantitative method with a deductive approach. The methodical procedure is based on previous research, where collected data is the foundation for the empirical review and hypothesis results. Theoretical perspectives The theoretical framework in the paper is based on modern portfolio theory. Furthermore, the performance comparison, as previous studies, is computed with Carhart’s four factor model and Sharpe ratio. Empirical foundation The study consists of 60 Swedish funds, of which a green portfolio of 40 mutual funds, and a conventional portfolio of 20 mutual funds are created. The arithmetical monthly data is compared over the 2012 - 2016 period. Conclusion The results show no significant difference between the portfolios risk adjusted return with neither Carhart’s four factor model nor Sharpe ratio.