The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period

dc.contributor.advisorAlhassan, Abdul Latif
dc.contributor.authorGaqa, Nandipa
dc.date.accessioned2021-01-27T05:40:33Z
dc.date.available2021-01-27T05:40:33Z
dc.date.issued2020
dc.date.updated2021-01-26T17:39:30Z
dc.description.abstractThe study evaluated the development role of targeted development investments in South Africa and their risk adjusted performance over a 10-Year period, that is from 2008 to 2017. Targeted development investments as a subset of socially responsible investments have transformed the way capital is allocated towards development funding needs. In the South African context this study is relevant given it offers a contrast between investments made in the public sector where development impact is a key objective, versus private sector targeted investments that aim to achieve financial returns whilst also driving development impact objectives aligned to sustainable development goals. The role and impact of these investments in the post democratic era is put in the spotlight given the country is dealing with economic, social, and environmental challenges that have necessitated the need to assess the nature and role of the investment industry in solving these complex development challenges (Giampocaro & Pretorius, 2012). The study on the role of the public sector focused on the investments and development impact indicators tracked by the Top 3 public sector investment institutions or corporations. The analysis on the performance of the private sector TDI funds examined their risk adjusted performance using Treynor, Sharpe, Sortino, and Information ratios. The risk adjusted performance was used to test whether the TDI fund returns under or outperformed against five benchmark categories. The research findings showed mixed results where TDI funds either underperformed or outperformed against the benchmark categories. The findings highlighted the need for a hybrid development model where both the public and private sector actively play a role in the development landscape as guided by their respective investment mandates. The findings advocate for corporate and institutional investors to increase capital allocations and investments towards financing development needs given the scope to maximise investor returns, whilst considering socially responsible investing and issues relating to the development and empowerment of previously disadvantaged communities.
dc.identifier.apacitationGaqa, N. (2020). <i>The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period</i>. (). ,Faculty of Commerce ,Graduate School of Business (GSB). Retrieved from http://hdl.handle.net/11427/32687en_ZA
dc.identifier.chicagocitationGaqa, Nandipa. <i>"The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period."</i> ., ,Faculty of Commerce ,Graduate School of Business (GSB), 2020. http://hdl.handle.net/11427/32687en_ZA
dc.identifier.citationGaqa, N. 2020. The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period. . ,Faculty of Commerce ,Graduate School of Business (GSB). http://hdl.handle.net/11427/32687en_ZA
dc.identifier.ris TY - Master Thesis AU - Gaqa, Nandipa AB - The study evaluated the development role of targeted development investments in South Africa and their risk adjusted performance over a 10-Year period, that is from 2008 to 2017. Targeted development investments as a subset of socially responsible investments have transformed the way capital is allocated towards development funding needs. In the South African context this study is relevant given it offers a contrast between investments made in the public sector where development impact is a key objective, versus private sector targeted investments that aim to achieve financial returns whilst also driving development impact objectives aligned to sustainable development goals. The role and impact of these investments in the post democratic era is put in the spotlight given the country is dealing with economic, social, and environmental challenges that have necessitated the need to assess the nature and role of the investment industry in solving these complex development challenges (Giampocaro &amp; Pretorius, 2012). The study on the role of the public sector focused on the investments and development impact indicators tracked by the Top 3 public sector investment institutions or corporations. The analysis on the performance of the private sector TDI funds examined their risk adjusted performance using Treynor, Sharpe, Sortino, and Information ratios. The risk adjusted performance was used to test whether the TDI fund returns under or outperformed against five benchmark categories. The research findings showed mixed results where TDI funds either underperformed or outperformed against the benchmark categories. The findings highlighted the need for a hybrid development model where both the public and private sector actively play a role in the development landscape as guided by their respective investment mandates. The findings advocate for corporate and institutional investors to increase capital allocations and investments towards financing development needs given the scope to maximise investor returns, whilst considering socially responsible investing and issues relating to the development and empowerment of previously disadvantaged communities. DA - 2020_ DB - OpenUCT DP - University of Cape Town KW - Cause-based investing or targeted investments KW - risk adjusted performance KW - Treynor ratio KW - Sharpe ratio KW - Sortino ratio KW - Information ratio LK - https://open.uct.ac.za PY - 2020 T1 - The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period TI - The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period UR - http://hdl.handle.net/11427/32687 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/32687
dc.identifier.vancouvercitationGaqa N. The Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period. []. ,Faculty of Commerce ,Graduate School of Business (GSB), 2020 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/32687en_ZA
dc.language.rfc3066eng
dc.publisher.departmentGraduate School of Business (GSB)
dc.publisher.facultyFaculty of Commerce
dc.subjectCause-based investing or targeted investments
dc.subjectrisk adjusted performance
dc.subjectTreynor ratio
dc.subjectSharpe ratio
dc.subjectSortino ratio
dc.subjectInformation ratio
dc.titleThe Development Role Played by Targeted Development Investments in South Africa and Their Risk-Adjusted Performance Over a 10-Year Period
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationlevelMCom
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