Commonfund Group has launched the Social Decision Fund, a domestic equity fund investing primarily in large-cap U.S. companies that meet social responsibility and financial performance standards.
The growth fund will select companies from the Russell 1000 index and screen them according to criteria of special concern to college and university endowments. Excluded companies will include those that: produce tobacco products, alcoholic beverages or weapons; conduct gambling businesses; are major polluters; make unsafe products; or fail to meet international human rights conventions. It seeks returns of 100 to 150 basis points over the S&P 500 index and passively managed socially responsible funds. Commonfund will use The Calvert Group to evaluate companies with the best social performance and State Street Global Advisors to identify the best companies from a financial perspective.
