You won’t find “booze, butts or bets” in Amy Domini’s $1.5 billion Social Equity Fund. In the world of finance, she is known as a pioneer who came up with the idea for socially responsible investing decades ago.
Unlike most mutual funds that base their holdings on the earnings of a company, rather than the ethics, Domini will not invest in companies that don’t protect the environment or respect their workers.
Making those choices isn’t easy. You won’t find WalMart or General Electric in her portfolio but you will see McDonalds, Merck and JP Morgan Chase. Changing their ways, she says, is part of the game. While her fund is not in the list of top-performers, Domini says it’s doing very well — mixing morals and money.
Guests:
Amy Domini, founder, Domini Equity Fund
Jeff Tjornehoj, research analyst with Lipper;