For love, not money
For years, investment pros looked askance at so-called socially responsible investing options (SRIs).
Sure, investing in green causes was fine for tree-huggers. But nobody with an ounce of financial sense would pick values over... value.
Now that's changing, as a crop of successful green funds has been showing real growth for several years now.
Let's look at one of the leaders: Portfolio 21.
A fund grows on Wall Street
Portfolio 21 is a mutual fund, one that you can check out on Morningstar, using the ticker symbol: PORTX.
Like other funds, PORTX is invested in many different stocks. You can look at the Morningstar snapshot here. The difference is, the fund managers have made an effort to choose companies that reflect the basic principles of responsible investing.
As fund founders and managers Leslie Christian and Carsten Henningsen explain in this recent interview in Green Money Journal, their primary concern was to focus on ecologically sustainable industries.
And as the Morningstar analysis notes, this four-star fund has been pretty successful: "Portfolio 21 has the makings of a fine portfolio centerpiece for socially responsible investors."
As we all decide where to put our money, it's exciting to know that there is a world of investment options beyond the financial behemoths on Wall Street.
Happy Earth Day!
Do you know where your money goes? Share your thoughts on socially responsible investing here.