Publication: Un análisis de la inversión ética en España
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1995-12
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Universidad de Deusto
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Abstract
El objeto de este trabajo es analizar en que medida los fondos de inversión en España han incorporado las preocupaciones éticas y medioambientales en la política de formación y selección de su cartera de inversiones. La inversión ética se canaliza, por lo general, a través de unos fondos especializados, conocidos como fondos éticos, que ofrecen a sus socios una cartera de activos que además de producir resultados financieros equivalentes a los de mercado, ofrecen a sus participantes la seguridad de que sus ahorros se destinan a empresas socialmente responsables.En nuestro país no existen, por el momento, fondos éticos por lo que se han realizado una serie de encuestas dirigidas a los gerentes de los fondos de inversión tradicionales, que nos ha permitido conocer las perspectivas que los aspectos éticos y medioambientales puedan tener en el mundo financiero. Así, mientras los gestores de los fondos reconocen la importancia de estos valores, encuentran dificultades prácticas para incorporarlos a sus carteras de inversión, ligando la viabilidad de los mismos a una adecuada promoción y la obtención de un nivel razonable de beneficios.-------------------------------------------------------------------------------
This article sets out to examine the extent to which Spain 's investment funds have taken on board ethical and environmental concems in the portfolio construction and selection policy. Ethical investment is generally channelled into specialized funds known as ethical funds offering investors an assests portfolio which, in addition to producing financial yields equivalent to those on the stock market, give their participants the certainty that their money is used only by socially responsible businesses. There are no ethical funds operating in Spain at present, and so a number of polls have been held among managers of traditional investment funds to discover the prospects which ethical and environ mental considerations may have on the financial market. It is seen that while fund managers acknowledge the importance of these stocks, they encounter practical difficulties when it comes to incorporating them into their investment portfolios, and they link their viability to their being properly promoted, and to their producing a reasonable level of profit.
This article sets out to examine the extent to which Spain 's investment funds have taken on board ethical and environmental concems in the portfolio construction and selection policy. Ethical investment is generally channelled into specialized funds known as ethical funds offering investors an assests portfolio which, in addition to producing financial yields equivalent to those on the stock market, give their participants the certainty that their money is used only by socially responsible businesses. There are no ethical funds operating in Spain at present, and so a number of polls have been held among managers of traditional investment funds to discover the prospects which ethical and environ mental considerations may have on the financial market. It is seen that while fund managers acknowledge the importance of these stocks, they encounter practical difficulties when it comes to incorporating them into their investment portfolios, and they link their viability to their being properly promoted, and to their producing a reasonable level of profit.
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Keywords
Fondos de inversión, Ética y medioambiente, Inversión ética
Bibliographic citation
Boletín de estudios económicos, v. 50, nº 156, dic. 1995, pp. 519-540