PERFORMANCE OF MICROFINANCE INVESTMENT VEHICLES

• Authors: Janda Karel , Barbora Svárovská
• Languages of publication: EN

Abstracts

EN

In this article we introduce microfinance investment funds as financially viable socially responsible investment. We provide a brief overview of the microfinance investment funds that are the most relevant to a commercially oriented investor who is besides the socially responsible aspect of this type of investment interested in the financial benefits of the inclusion of these funds into his personal investment portfolio. In regard to the dependence of returns of microfinance funds on the performance of stock and fixed income markets in deve-loped and emerging economies we find slightly negative correlation. We also show that microfinance investment funds provide modest but in time stable returns compared to benchmark market indices.

Keywords

EN

MICROFINANCE; INVESTMENT; FUNDS; RISK

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2013
• Volume: 61
• Issue: 1
• Pages: 47 – 66

Contributors

author

Janda Karel

• Ekonomická Univerzita, nám. W. Churchilla 4, 130 67 Praha 3, Czech Republic

author

Barbora Svárovská