Calvert boss: 10% of assets in SRI by 2012
WASHINGTON - Ten percent of U.S. mutual fund assets will be in socially and environmentally responsible mutual funds by 2012, predicted Barbara Krumsiek, Calvert Group CEO. Currently, 2% of U.S. mutual fund assets are in such funds.
"My estimate is this optimistic for two reasons," she wrote in a report in the summer issue of the Green Money Journal. "First, access to (socially responsible investments) in retirement plans has increased substantially in the past few years. The number of major 401(k) platforms offering at least one screened fund has risen from 1-in-10 to 9-in-10, and this access will logically translate into usage as more corporations add SRI options to their plans."
Vestek adds 9 families
SAN FRANCISCO - Nine mutual fund families were added to the Vestek Select fund research platform. They are: Baron, BlackRock, Deutsche Funds, Enterprise Funds, Gabelli, J.P. Morgan Fleming, Neuberger Berman, PBHG Funds and Royce Funds. Vestek Select now includes more than 2,300 portfolios from 115 fund families.
AIT launches MaxCap Value
CLEARWATER, Fla. - Advanced Investment Technology launched its MaxCap Value strategy, an active fund benchmarked to the Russell Top 200 Value index. The new fund addresses the fit problem in market-cap size resulting from the biases traditional active large-cap managers tend to have toward the small end of their universe, according to AIT.
Lipper offers new indexes
DENVER - Lipper introduced holdings-based indexes for equity mutual fund performance attribution. They comprise holdings from a wide universe of funds within 19 asset classes and sectors.
The indexes are adjusted monthly, and component performance and weightings are updated daily.