Friday, January 22, 2010
MOJ friend Elizabeth Brown sent me this article from the Financial Times, about religiously-based investment funds. According to the article, more than 1/10th of all US managed funds are now invested according to some sort of socially-responsible criteria. The occasion for the article was Monday's opening of the NYSE session by the investment advisor "FaithShares", which offers different investment funds that invest according to values of different faith traditions: Baptist, Catholic, Lutheran, Methodist, or 'Christian'. Apparently the Baptist fund invests in no sellers of alcohol, the Lutheran fund avoids seller of spirits, and the Catholic fund has no qualms about alcohol. Islamic funds, avoiding both sellers of alcohol and banks, have apparently been performing pretty well lately.