IT AIN'T EASY being green — or Catholic, or alcohol- and tobacco-free.
Over the last year (through the end of August), the average equity fund
that employs some sort of "socially responsible investing" (SRI)
strategy has gained 6.68%, well behind the 9.71% average for all equity
funds, according to investment-research firm Lipper. The gap is also
there over five years: 4.42% annualized for SRI equity vs. 7.14%
annualized for all-equity funds.
Though criteria vary, SRI funds generally avoid sectors that go against
certain ethical guidelines. The biggies are alcohol, tobacco, defense,
pornography and gambling, but a fund based on Catholic principles might
also avoid drug makers, health insurers and hospital operators with
ties to abortion.
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