The behaviour of socially responsible investments as financial assets
School of Accounting, Finance and Business Economics
This paper examines the behaviour of socially responsible investments (SRIs) as financial assets using a returns-based style analysis methodology. Conflicting views exist on the risks of SRIs in terms of their exposure to asset classes and industry sectors. This paper provides empirical evidence from a sample of Australian SRI managed funds. The sample SRI funds do not have strong consistent patterns in terms of style. They do not appear to represent a homogenous category of investments, and do not belong in an investment class of their own.