Monday, October 17, 2005
Investments can be in line with your values
By Meg Richards
THE ASSOCIATED PRESS
Socially responsible funds, and the ideals behind them, are becoming more mainstream, but building a truly diversified portfolio with them remains a challenge.
The realm of socially responsible investment funds is a growing niche. In fact, at a faster pace than the mutual fund world overall, according to Morningstar Inc.
But one of the things that can make it a confusing area for investors is the wide diversity of values SRI funds attempt to incorporate. And since most are fairly small in terms of assets, bargain hunters may not be thrilled with their fees. Still, those who believe in the idea of looking beyond the basics of the balance sheet say screening for good environmental, social and governance citizenship bears rewards.
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Among large-cap domestic equity, a fair number of choices are available. One of the biggest SRI fund shops is the Calvert Group, which screens its holdings according to social criteria, eliminating alcohol, tobacco, gambling, and weapons companies, and firms with poor environmental and labor practices. Among its funds is the Calvert Social Investment Equity (CSIEX), which has developed a good record under manager Dan Boone. But despite substantial asset gains, the fund's expense ratio has remained a relatively high 1.24 percent.
Among faith-based shops, one of the best known is the Ave Maria Funds, which seek to incorporate Catholic values, and "pro-life and pro-family beliefs." Toward that end, Ave Maria screens out companies connected with abortion, pornography or that offer non-marital partner benefits to their employees.
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http://www.dailybreeze.com/business/articles/1794796.html 
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