Parnassus Investments launched a mutual fund that invests in companies that maintain good workplaces for their employees. "The general thesis is companies whose employees are positively motivated and like going to work are going to do better than companies whose employees aren't motivated," said Jerome L. Dodson, president and founder of Parnassus Investments and portfolio manager of the Workplace Fund.
The fund will start to invest Monday, when it begins accepting money, he said.
Companies under consideration for the portfolio, which will have 25 to 50 stocks, include Amgen Inc., 3M Co., American Express Co., Nokia Corp., Novartis AG, Pfizer Inc., Costco Wholesale Corp., Principal Financial Group, Cisco Systems Inc., Procter & Gamble Co., Ebay Inc., Four Seasons Hotel Inc., General Mills Inc., Symantec Corp., The Gap Inc., Target Corp., International Business Machines Corp., Texas Instrument Inc., Intuit Inc., Johnson & Johnson, Nordstrom Inc. and Whole Foods Market Inc.
Criteria for inclusion in the fund will include equitable pay, family-friendly benefits, training and educational opportunities, diversity, two-way communications and support for volunteerism in the community.