Struktura rynku funduszy społecznie odpowiedzialnych w wybranych krajach europejskich
Structure of Socially Responsible Investment Funds in Selected European Countries

Summary/Abstract: Purpose – The aim of this paper is to characterize the market structure of funds that invest according to principles of social responsibility in selected six european countries, and to evaluate their growth dynamic. Design/methodology/approach – Study was conducted with the use of data from the European Sustainable Investment Forum (Eurosif) and reports from the Vigeo Raiting agency. Findings – This study reveals a high development dynamics of SRI investments with significant country to country variations. High dynamics occurs especially after the last financial crisis. One can make an observation that in Europe SRI investing is not a passing fad, rather an important trend in the development of capital markets. It is worth noting that the outbreak of the financial crisis did not result in the decrease in assets of SRI funds, what can indicate at an acyclical character of such investments. The most common strategy in Europe was exclusion selection, and the biggest share in the assets of SRI funds can be found in France. Originality/value – Issues concerning the structure of SRI funds in Europe is of high practical importance for investors.

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