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UCITS hedge fund performance and flows during COVID-19
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Bachelor's thesis
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en
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19
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I present a comprehensive analysis of the performance and flows of UCITS hedge funds during the Covid-19 crisis. Exploiting this shock, I show evidence that investors view sustainability as a positive attribute, allocating more money into funds with high sustainability ratings. Experimental evidence suggests that social preferences and other non-financial motives drive investors to choose high sustainability funds over low sustainability funds rather than rational performance expectations. Investors' focus on sustainability, especially during a crisis, indicates sustainability is viewed more as a necessity than a voluptuous good.