Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83323
Authors: 
Janda, Karel
Svárovská, Barbora
Year of Publication: 
2009
Series/Report no.: 
IES Working Paper 32/2009
Abstract: 
This paper investigates investment performance of microfinance investment funds. The examined funds have recorded lower total risk than global stocks and bonds (measured by four benchmark indices) with moderate but stable returns. The analysis revealed that investment in microfinance investment funds that focus especially on debt instruments represents an attractive opportunity for the portfolio diversification as this asset class does not show any positive correlation with global or emerging capital markets. At the same time, it provides adequate risk-adjusted returns and may be therefore attractive not only for investors with a particular interest in the socially responsible aspect of investment into microfinance.
Subjects: 
microfinance
Investment
Funds
JEL: 
G11
G21
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size
289.94 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.