Diversificación con fondos de inversión sostenibles
Diversification with sustainable investment funds
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En los últimos años, las inversiones sostenibles han ganado relevancia, lo que se refleja en una amplia y creciente literatura que compara su desempeño con el de las inversiones tradicionales. Este trabajo contribuye a esa literatura analizando los comovimientos entre fondos sostenibles de distintas regiones y comparándolos con los comovimientos entre índices tradicionales, con el objetivo de identificar la existencia y naturaleza de la diversificación regional en fondos sostenibles. Utilizando la metodología de descomposición de wavelets, se construyen portafolios regionales de fondos sostenibles y se compara su desempeño con el de portafolios de índices tradicionales en distintos horizontes temporales. Los resultados revelan que los fondos sostenibles, en la mayoría de los casos, ofrecen oportunidades adicionales de diversificación, más allá de la diversificación regional tradicional. Los resultados también evidencian cómo estas oportunidades se fortalecen con horizontes temporales más amplios.
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