The Wharton School of the University of Pennsylvania published a new report: “Great Expectations: Mission Preservation and Financial Performance in Impact Investments,” authored by the Wharton Social Impact Initiative.

The study evaluates the financial performance of 53 impact investing private equity funds relative to public market indices such as the Russell 2000 and other benchmark indices. It concludes that contrary to perceptions, investors do not necessarily need to expect lower returns as a trade-off for social impact; in fact, in some market segments, investors achieve returns similar to those from public indices.

You can read the full report here.