Animal lovers now can do more than ever to promote the health and well-being of animals, thanks to a mutual fund just introduced by the Humane Society of the United States and SSBCiti Asset Management Group, New York.
The Humane Society provided the criteria and ethical investing principles that's applied by SSBCiti's managers, who will screen out companies that conduct animal research, use animal products in manufacturing, sell or produce meat products, or manufacture hunting and trapping equipment.
"This will give people who care about animals a way to invest in the stock market that they can feel comfortable with," said Thomas Waite, the Humane Society's chief financial officer.
The no-load fund, which carries a $1,000 minimum investment, is being sold directly and through mutual fund supermarkets. The initial annual operating charge will be 145 basis points, which will be reduced as assets in the fund increase.
A national print and broadcast advertising campaign will begin early next year to appeal to animal-loving Americans.