The relative investment performance of the community growth fund

Abstract

This paper examines the impact of social criteria on the investment performance of the Community Growth Fund, a trade-union-controlled South African unit trust. It gives a brief history of the fund, discusses reasons for performance deviations, and shows that there may be reason for believing that some social criteria improve performance.

Keywords: investment performance, ethical, socially desirable, socially responsible

South African Actuarial Journal Vol. 5 2005: 1-26