Many funds have “ESG” in their names, suggesting they hold a portfolio of stocks or other assets issued by firms that rank highly on ESG criteria. However, names may be misleading and actual portfolio holdings often do not reflect ESG investing criteria so that the investor in such funds...

Purpose Stirred by scant regard for market phases in portfolio performance assessments, the current paper investigates the active versus passive investment strategies under the bull and bear market conditions in emerging markets focusing on South Africa as a case study....