Publication at Faculty of Mathematics and Physics, Faculty of Social Sciences |
2013
Abstract
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 developed 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.