The purpose of this paper is to evaluate conventional and sustainable mutual funds efficiency and determine the impact of the fund‘s main characteristics on sustainable mutual fund efficiency. The results of the research show that United Kingdom and United States sustainable mutual funds have higher level of efficiency compared to conventional mutual fund‘s and stock market indices. Also the main characteristics of sustainable mutual funds do not have a significant effect on the efficiency of analyzed sustainable mutual funds.

The article gives overview of emerging Latvian investment services market. Different sub sectors are examined to identify individual trends influencing development of single activities and a broader vision of the whole market is given as well.