Eventually, though, money gets it's way. I remember when Ethical funds started being set up. Their performance was woeful, primarily because the margins in the ethical sector are lower than they are in non ethical businesses.
Two things happened: 1) ethical funds had to lower their high bar investment criteria in order to get some performance back, and 2) the boutique fundies gave up on the space and left it to the big fund management groups who were better able to absorb the overhead cost across their other funds.
O&G is the same. Sacrifice your margins to appeal to a "new awake investor" and watch the share price falls as asset allocation moves progressively towards lower margin revenue.
Eventually, though, money gets it's way. I remember when Ethical...
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$26.94 |
Change
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Mkt cap ! $51.15B | |||
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