01301nam a22002177a 450000100060000000300040000600500170001000800410002704000300006810000210009824500810011926000760020030000190027650500080029552006700030365000350097365000210100865000170102965000180104665000190106453482OSt20260707173256.0110110t        xxu||||| |||| 00| 0 eng d  aKENaSULcKENaSULdKENaSUL  aViviers, Suzette  aSocially responsible (ethical) investing in south africa / cSuzette Viviers  aAuckland Park, South Africa . bAfrican Jounal of Business Ethicsc2005  avol.(pg 21-30)  aTOC  aMore South African investors are integrating their personal values into their investment decisions. Research on the performance of socially responsible investment(RSI) funds, also called ethical funds, yields conflicting results. In this study, the risk adjusted performance of 14 local SRI funds have been evaluated vis-a-vis their respective benchmarks. The results of the Treynor and Sharpe ratios indicate that the majority of funds outperformed their respective benchmarks over the period 1July 2001 to 31st June 2004 and all but one fund posted positive Alphas. These results thus appear consistent with previous research which shows that ethics indeed pays.   aSocially responsible investing  aFund performance  aSharpe ratio  aTreynor ratio  aJensen's Alpha