Objective and motivation of the project: The projects objective is the assessment of the role of sustainability funds in the asset management of German charitable foundations. From the microeconomic and specifically the financial perspective it is to be investigated, which positive and negative consequences may arise for charitable foundations from increased investment in Sustainability Funds. The study thereby captures all relevant objectives and framework conditions of German charitable foundations in order to derive practically feasible recommendations. The central questions to be addressed by the study are:

  • How well do Sustainability Funds match the objectives and framework conditions of German charitable foundations?
  • Which (dis)advantages are characteristic of Sustainability Funds with respect to the Asset Management of Charitable Foundations?

The study comprises detailed empirical analyses based on financial theory and modelling as well as statistical and econometric methods such as the simulation and assessment of dynamic investment strategies. The study concludes with the development of suitable strategies for the integration of Sustainability Funds in the Asset Management of Charitable Foundations.

Selected Publications

Articles in Refereed Journals

Schröder, Michael (2007), Is there a difference? The performance characteristics of SRI equity indices, Journal of Business Finance and Accounting 34 (1) & (2), 331-348.