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In the traditional financial landscape, profit and social solidarity often clash. However, Microfinance Investment Vehicles (MIVs) are emerging as a bridge between private and social interests, particularly in the wake of a global recession. Maria Cristina De Lorenzo clarifies the often-misunderstood concept of MIVs and employs financial indicators such as returns, Jensen's alpha, Sharpe Index, Treynor Index, Beta, and R-Squared to assess the performance and risk of ten MIVs over the past three years. She compares these results against three benchmarks: the Morgan Stanley Capital International World Index, the Dow Jones Sustainability World Index, and the J. P. Morgan Emerging Market Bond Index Global. The findings reveal that MIVs generally outperform these benchmarks, enhancing portfolio diversification due to their negligible correlation with broader markets (Beta parameters near zero). Ultimately, De Lorenzo seeks to establish standard indicators of social performance linked to these investments, reinforcing the notion that ethically and socially responsible funds present significant financial and social opportunities for all stakeholders involved.
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Microfinance investment funds, Maria Cristina De Lorenzo
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- Année de publication
- 2011
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