Word: mutualize
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Investors seeking to make money with a clean conscience are flocking to socially responsible mutual funds, which invest in companies that meet nonfinancial standards like environmental friendliness and respect for workers' rights. Assets in such funds have jumped 156% over the past five years, to $31.9 billion, while the fund industry as a whole has grown just 22%, according to fund tracker Lipper. But a recent study by environmentalist Paul Hawken suggests investors might be getting more than they bargained for. Hawken, who runs the Natural Capital Institute in San Francisco, found socially responsible funds owning companies like Iraq-entangled...
...blinded by the notion of benevolence. You're buying a mutual fund, not volunteering at a soup kitchen. Making money is part of the point. As with any sort of fund, you should look for low expenses, experienced management and a good track record. Calvert Social Investment Equity, a large-cap growth-plus-value fund that screens companies in seven areas, has fared better than the vast majority of large-cap blended funds over the past five years (although it has fallen behind the pack recently). Ariel Fund, a small-cap value fund, isn't nearly so stringent about screening...
...will undo years of hard work. At a press conference in St. Paul last week, community leaders tried to distance themselves from Vang and announced that they were starting a fund for the victims' families. Fearing a backlash, Joe Bee Xiong, director of the Eau Claire Area Hmong Mutual Assistance Association, has suggested that Hmong hunters stay home for the rest of the season...
...Senator Bill Bradley, a close friend. "She knows that she can have an impact because so few people say what they really feel." Indeed, Hobson had the guts to stand up to crusading New York attorney general Eliot Spitzer at a conference when she thought he was criticizing the mutual funds industry too harshly, and she has clashed with top Senators in testimony before Congress. She is worried that "rampant legislation" will stifle creativity and force smaller firms out of business. "What has made this industry so strong is the spirit of smaller firms," says Hobson, "and I would hate...
...Lowrey multiple times, Annie stuck with the mag. Her encyclopedic knowledge of popular culture, love for gonzo journalism (hint:: it has nothing to do with Muppets) and relentless pursuit of aesthetic perfection won FM over at first sight. We’re glad to know the feeling is mutual...