Tham, T.M. “The Lure of the Socially Responsible Fund to Families: Evidence from Mutual Fund Flows and Family Strategies.” Working paper (Nanyang Technological University, Singapore), April 2013.
From the author's abstract: "We show that a socially responsible fund brings greater cash-flows to the fund and to other member funds than a conventional fund. Moreover, families with better performance, greater inflows and lower turnover ratio have higher odds of offering socially responsible funds. However, socially responsible fund families outperform conventional fund families unconditionally and conditional on low ex-ante odds of offering socially responsible funds only."