New Alternatives Mutual Fund

There are many investment firms forming a net to catch the newly re-greened dollar. One of them is the New Alternatives Fund. This mutual fund only invests in renewable energy sources. A moral stance that is quickly becoming the norm with many mainstream green investment companies and funds.

New Alternatives Fund (( MUTF:NALFX – Via Google Finance.)) focuses on alternative energy mainly. The firm also invests in other areas that are not energy related.

Wind power, fuel cells, ocean energy, hydro power, solar power, energy conservation, hydrogen, biomass, and geothermal energy companies make up New Alternatives Funds alternative energy portfolio.

The other areas this investment firm hedges into are recycling, natural foods, clean water, clean air, and natural gas.

The company has a clean statement about its investment into natural gas:

We do invest in natural gas which is the cleanest of all hydrocarbons, particularly when used in modern turbines and fuel cells. Natural gas resources are generally domestic.

This mutual fund will not invest in the coal industry, oil, weapons, nuclear power, tobacco, or any company that practices discriminatory hiring policies, unfair labor practices detrimental environmental policies, animal testing practices.

The Economist calls the New Alternatives Fund, “The greenest fund in the United States” (( The Economist London, 11/11/1989)) This was a statement published about the fund in 1989.

The fund is also the oldest environmental fund in the United States. The firm was founded in 1982.

The fund holds its deposits in South Shore Bank. South Shore Bank in known for its community and environmental commercial lending history. Up until recently the fund has also housed its capital in federal t-bills.

The mission of this fund is best summarized in the words of the firm itself located in the company overview on their website.

The Fund periodically faces the dilemma of considering investment in a company that produces a promising environmental product, but whose other characteristics are not acceptable to our socially responsible standards. There are various degrees and subjective judgments concerning this theme. We tend towards avoiding companies with negative behavior at the expense of missing out on a promising product. This firm is leading the way for other investment firms wanting to take this strong of a moral approach to investing morally for profit nationally within the United States.

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Posted in News by admin on October 10, 2008.

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