| Summary: | 碩士 === 國立中興大學 === 高階經理人碩士在職專班 === 99 === This study was focusing on the performance of the funds and S&P500 stock index’s result due to the climate changing. In this study, samples were taking form domestic and international profile of climate change fund, such as UBS (Lux) Equity Fund-Global Innovators, Schroder ISF Global Climate Change Equity, HSBC Global investment funds- Climate Change, DWS Invest clean Tech LC, Cathay global Ecology Fund, UBS (TW) Equity Fund-Global Innovators, Jih Sun Anti-Global Warming Fund, ING Global Climate change Fund. The study period was from July 2001 to December 2010. Also using the monthly end NAV data of the Sharpe index, Treynor index and Jensen''s α index to view a sample of 8 Fund''s performance. The study came out with the results as following. (1) 7 funds performances were poor than S&P500 stock index . Funds included : UBS (Lux) Equity Fund-Global Innovators, Schroder ISF Global Climate Change Equity, HSBC Global investment funds- Climate Change, DWS Invest clean Tech LC, Cathay global Ecology Fund, UBS (TW) Equity Fund-Global Innovators, Jih Sun Anti-Global Warming Fund, ING Global Climate change Fund.(2) The Schroder ISF Global Climate Change Equity had best performance over the 8 sample funds. The result was also better than S&P500 stock index in Sharpe index, Treynor index and Jensen''s α index .Overviewed the data result with a conclusion that current Climate Change Funds’ performance had not been appear by the climate changing. Probably due to the holding of the funds were emphasis on energy-related industries, related to carbon reduction and environmental protection-related industries, and also biased in favor of large stocks and shares. Which was the reason affected the performance of the funds. In reality, the shortage of the oil supply is a fact and will become more and more serious. The industries in the profile of the climate change fund will be focus in the future. The Climate Change Fund will have better chance and have investors’ importance.
|
|---|
