October 5, 2007, Newsletter Issue #86: Socially Responsible Mutual Funds
Tip of the Week
If you want to invest your money in a cause you believe in, look into socially responsible mutual funds. These mutual funds only buy into companies that support the ideals of the fund manager. Not all socially responsible mutual funds are alike, however. Some focus on investing in companies that they feel treat workers fairly. Others look for companies that benefit the environment (and all have different standards for how they evaluate this). While socially responsible mutual funds don't have a greater success rate than other types of mutual funds, they can be worth it if you are looking for a way to use your money to promote your values. Look through a prospectus for the socially responsible mutual funds you are interested in to find mutual fund information about the values of the fund. On the other side of the coin, there are also vice mutual funds available for those who want their money to support “vices” such as alcohol or fast food. These also don't perform any better than other funds in the long term.
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