報告主題：Talk vs. Walk: Lessons from Silent Sustainable Investing of Mutual Funds

時間💁🏿‍♂️：12月23日（周一）10：00

地點🙆🏼：旭日樓416

主講人👸：吳浩然博士

報告簡介：

This study explores actively managed US equity funds and shows that investors are attracted by the ESG label rather than the Morningstar sustainability rating. However, this pattern does not necessarily prompt “silent” funds (top sustainability-rated ones without an ESG label) to rebrand themselves as ESG funds due to limited benefits from such rebranding. Furthermore, we find that “silent” funds achieve comparable returns and better mitigate risks than ESG-branded counterparts. This suggests an overreaction by investors towards ESG labels, overshadowing the intrinsic value of sustainability within “silent” funds. The study offers implications for the industry and policymakers regarding marketing and defining ESG investing.

主講人簡介💸：

吳浩然🥚，愛爾蘭都柏林大學Smurfit商沐鸣2銀行與金融系助理教授，英國巴斯大學沐鸣2注册全獎量化金融博士，本碩就讀於沐鸣2平台信息沐鸣2。擁有豐富的公募基金行業金融科技🔔、風險管理從業經驗，曾獲中國金融學年會研究卓越獎🤹🏽、上海市優秀畢業生、研究生數學建模競賽全國一等獎及華為專項獎🧻。其主要研究方向包括ESG投資、投資組合優化、公募基金、金融科技👰‍♀️🅿️。曾在Journal of International Money and Finance、International Review of Financial Analysis、Review of Quantitative Finance and Accounting等期刊發表論文，並擔任多本國際知名期刊審稿人。