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Chapter 11. Mutual Funds > Socially Responsible Investment Funds

Socially Responsible Investment Funds

Socially responsible investment (SRI) funds have been around for a very long time. Although they are not their own fund class or category, you'll find dozens of them to choose from. These are mutual funds that screen investments to exclude companies that don't meet their standards. The screening process may exclude companies that pollute the environment, tobacco companies, gaming companies, or those that exploit third-world labor. There is even a fund whose objective is to match the Domini 400 Social Index of 400 companies that meet the rigorous screening applied by Domini. That fund, the Domini Social Equity Fund, was started in June 1991, and since its inception, it has a 9.80 percent average annual return compared with the 10.12 percent, which the S&P 500 returned over that same period. Many other fund managers offer SRI funds, with the largest and oldest being The Calvert Group at www.calvertgroup.com. You can also log onto www.socialinvest.org for good information on socially responsible investing.


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