Funds

Working Paper

Low-carbon Mutual Funds

We show that mutual funds compete for climate-conscious investment flows. In April 2018, Morningstar introduced a climate-focused label for mutual funds. The release of the “Low Carbon Designation” induced reactions on both the demand and supply...Read more

Marco Ceccarelli
Stefano Ramelli
Alexander Wagner
19 March 2020

Do Index Funds Monitor?

Passively managed index funds now hold over 25% of U.S. mutual fund and ETF assets. The rise of index investing raises fundamental questions about monitoring and corporate governance. We show that, relative to active funds, index funds are less...Read more

Davidson Heath
Daniele Macciocchi
Roni Michaely
Matthew C. Ringgenberg
20 November 2019

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