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Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance

Estimates suggest that a $3.3 - $4.5 trillion financing gap exists if we are to meet the SDG goals by 2030. Public funding alone cannot meet this target, private capital needs to be mobilised. Impact investing has the potential to bridge this gap, providing measurable real-world impact alongside fin...

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Main Author: Killingbeck, Charles William Jack
Other Authors: Alhassan, Abdul Latif
Format: Thesis
Language:English
Published: Graduate School of Business (GSB) 2024
Subjects:
development finance
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access_status_str Open Access
author Killingbeck, Charles William Jack
author2 Alhassan, Abdul Latif
author_browse Alhassan, Abdul Latif
Killingbeck, Charles William Jack
author_facet Alhassan, Abdul Latif
Killingbeck, Charles William Jack
author_sort Killingbeck, Charles William Jack
collection Thesis
description Estimates suggest that a $3.3 - $4.5 trillion financing gap exists if we are to meet the SDG goals by 2030. Public funding alone cannot meet this target, private capital needs to be mobilised. Impact investing has the potential to bridge this gap, providing measurable real-world impact alongside financial performance. However, the empirical effect of impact investing on financial performance appears under researched. This study sought to identify if funds, and investors, accept a trade-off between impact and financial performance among Collective Investment Schemes (CISs) domiciled in South Africa. The quasi-experimental design, with the two methods of analysis being a non-parametric ANOVA and multiple regression (OLS and fixed effects) were employed to analyse data on 1,106 South African Collective Investment Schemes over three- and five-year investment periods. The results indicate a weak relationship with the absolute returns performance measure, both positive and negative, but fail to establish a relationship for volatilities and risk-adjusted returns. The latter suggests that measurable real-world impact can be attainted alongside financial performance. These findings will improve individual investor's and investment manager's understanding of responsible investing, ESG factors and the relationship with risk and returns and, importantly, they indicate the financial performance barrier does not appear to exist in South African CISs
format Thesis
id oai:open.uct.ac.za:11427/39121
institution University of Cape Town (South Africa)
language eng
last_indexed 2026-06-10T12:46:17.380Z
license_str Not specified — see source repository
provenance_str_mv Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository
publishDate 2024
publishDateRange 2024
publishDateSort 2024
publisher Graduate School of Business (GSB)
publisherStr Graduate School of Business (GSB)
record_format dspace
source_str UCTD — University of Cape Town Open Access Repository
spelling oai:open.uct.ac.za:11427/39121 Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance Killingbeck, Charles William Jack Alhassan, Abdul Latif development finance Estimates suggest that a $3.3 - $4.5 trillion financing gap exists if we are to meet the SDG goals by 2030. Public funding alone cannot meet this target, private capital needs to be mobilised. Impact investing has the potential to bridge this gap, providing measurable real-world impact alongside financial performance. However, the empirical effect of impact investing on financial performance appears under researched. This study sought to identify if funds, and investors, accept a trade-off between impact and financial performance among Collective Investment Schemes (CISs) domiciled in South Africa. The quasi-experimental design, with the two methods of analysis being a non-parametric ANOVA and multiple regression (OLS and fixed effects) were employed to analyse data on 1,106 South African Collective Investment Schemes over three- and five-year investment periods. The results indicate a weak relationship with the absolute returns performance measure, both positive and negative, but fail to establish a relationship for volatilities and risk-adjusted returns. The latter suggests that measurable real-world impact can be attainted alongside financial performance. These findings will improve individual investor's and investment manager's understanding of responsible investing, ESG factors and the relationship with risk and returns and, importantly, they indicate the financial performance barrier does not appear to exist in South African CISs 2024-01-04T12:37:34Z 2024-01-04T12:37:34Z 2022 2024-01-04T12:29:12Z Thesis / Dissertation Masters Master of Commerce http://hdl.handle.net/11427/39121 eng application/pdf Graduate School of Business (GSB) Faculty of Commerce
spellingShingle development finance
Killingbeck, Charles William Jack
Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance
thesis_degree_str Master's
title Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance
title_full Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance
title_fullStr Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance
title_full_unstemmed Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance
title_short Responsible Investing in South African Collective Investment Schemes: An Analysis of Performance
title_sort responsible investing in south african collective investment schemes an analysis of performance
topic development finance
url http://hdl.handle.net/11427/39121
work_keys_str_mv AT killingbeckcharleswilliamjack responsibleinvestinginsouthafricancollectiveinvestmentschemesananalysisofperformance

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