TY  - BOOK
AU  - Viviers, Suzette
TI  - Socially responsible (ethical) investing in south africa / 
PY  - 2005///
CY  - Auckland Park, South Africa . 
PB  - African Jounal of Business Ethics
KW  - Socially responsible investing
KW  - Fund performance
KW  - Sharpe ratio
KW  - Treynor ratio
KW  - Jensen's Alpha
N1  - TOC
N2  - More 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.
ER  -