Thursday, April 17, 2008

CNN profiles faith-based mutual funds

The growth of SRI among religious groups is attracting the attention of market trend watchers in the mainstream press. CNN recently pointed out, for instance, that "There are about 50 Catholic, Protestant, and Islamic-based mutual funds with assets totaling around $17 billion. The category has grown dramatically, from only $500 million in assets 10 years ago, according to David Kathman, a Morningstar analyst specializing in socially responsible investing."

The feature then proceeds to profile five such funds - Amana (Islamic), Ave Maria (Catholic), MMA Praxis (Mennonite), New Covenant (Presbyterian), and Timothy (Evangelical Christian).

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