Download This PaperWhat’s in a (Green) Name? The Consequences of Greening Fund Names on Fund Flows, Turnover, and Performance
22 Pages Posted: 24 Jun 2020 Last revised: 7 Mar 2023
Date Written: April 9, 2020
Abstract
We examine a sample of U.S. mutual funds and find that, between 2003 and 2018, 28 funds have changed their name to a sustainability-related appellation. Following the name change, we observe three main outcomes:
(i) an increase in fund flows,
(ii) a significant rise in portfolio turnover, and
(iii) no substantial change in fund betas and alpha.
Keywords: Mutual Fund Flows; Socially Responsible Investing; Fund Names; Fund Performance; Turnover; Sustainability
JEL Classification: G11; G23; M14
Suggested Citation: Suggested Citation
El Ghoul, Sadok and Karoui, Aymen, What’s in a (Green) Name? The Consequences of Greening Fund Names on Fund Flows, Turnover, and Performance (April 9, 2020). Finance Research Letters, Available at SSRN: https://ssrn.com/abstract=3593056 or http://dx.doi.org/10.2139/ssrn.3593056
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