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September 8, 2014

New funds target ‘socially responsible' investors

  • The funds put money into everything from affordable housing to renewable energy projects. There's even one called the International Finance Facility for Immunisation that generates cash to buy vaccines for children.
    • By STAN CHOE
    AP Business Writer

    NEW YORK — Instead of lending to just the government or some faceless corporation, what if your bond mutual fund also helped to vaccinate kids around the world? Or helped finance a clean-water project or solar-energy farm?

    More mutual fund managers are seeking out bonds that not only do well but also promote a positive impact on the environment, society and corporate governance. It's a concept called socially responsible investing, and it's long been dominated by stock mutual funds. But a proliferation of “green bonds,” whose proceeds go toward projects with environmental benefits, and similar investments mean more bond funds are using a socially responsible lens.


     
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