OK, so I’m always touting the latest Green Living idea, invention or convention that I think has value. Well today I
came across an article in the NYTimes about Pax World Funds. Apparently they are being sanctioned by the SEC for
failing to comply with their prospectus. The article states that Pax invested in companies involved in “alcohol,
ambling and military contracting.” Their website states that ” we believe sustainable investing is a better,
smarter way to invest, and helps us identify more forward-thinking, better managed companies” I have not read
their entire prospectus, but I have looked to their website as being one of the leaders in SRI (Socially Responsible
Investing) This a reminder to us all to vet every thing that comes our way.
peace, nyenye
2 responses so far ↓
SOCIALLY RESPONSIBLE INVESTING · All-Mutual-Funds-ExplainedOnline.Net // September 4, 2008 at 3:14 am |
[...] Original post by Nyenye [...]
Ron Robins // September 4, 2008 at 2:26 pm |
Re Pax situation. Though not stated, it is likely that the pressure to perform for short term goals could be a factor. Most fund managers are measured for their short term performance, even though their investors have a supposed long-term horizon.
The average US mutual fund has over a 100% turnover of its holdings each year! Only when investors and investment managers move to a longer-term focus and will such misdeeds be less.
Incidentally, I’ve been following socially responsible investing for about forty years and have a site that covers the latest news and research on the subject. It’s at http://investingforthesoul.com/
Best wishes, Ron Robins