Calvert Asset Management hired Ibbotson Associates as a consultant for two new funds of funds, the Calvert Conservative and the Calvert Moderate Allocation Funds. Ibbotson is providing asset allocation targets and individual allocations to the 11 Calvert mutual funds used as the underlying investment vehicles. Calvert managers are running the two socially screened funds, which will open Friday, said Elizabeth Laurienzo, a Calvert spokeswoman.
The Calvert conservative fund invests 60% to 80% of assets in the CSIF Bond Portfolio, 20% to 40% in Calvert equity funds and up to 10% in the CSIF Money Market Portfolio. The moderate asset allocation fund's asset allocation targets are: 50% to 80% in equity funds; 20% to 50% in the CSIF Bond Portfolio; and up to 10% in the money market fund.