Online Guide to Sustainable Green Mutual Funds

I came across this excellent profile of ethical and sustainable green investment funds on the website The-Eco-Market.com and would love to share it with my readers:

Guide to Green Mutual Funds, Sustainable Investment Funds

There are a large number of green mutual funds in the marketplace which are a convenient way for the average investor to invest in the green sector. Green mutual funds could have investments in a number of green industries or it could be focused exclusively on one industry sector such as renewable energy or water. A true green mutual fund should employ socially responsible investment principles.

The purpose of this section is to provide readers with a cursory overview of eco friendly mutual funds and to provide the resources to allow the reader to conduct their own due diligence. The information provided here should not be considered professional investment advice. Always consult with a professional advisor before making any investment decisions.

Below is a summary overview of some of the largest green mutual funds available in the marketplace. Please note the “as of date” with the summary of each fund as the specific holdings and values in the fund will fluctuate over time.


Green Mutual Fund Directory:

Fund Name: Appleseed Fund
www.appleseedfund.com
Symbol: APPLX
Investment Objective: “look to invest in sustainable companies that balance the generation of profits with an awareness of their impact on the environment and society. We seek out responsible managers who operate their businesses with the goal of creating long-term, enduring value.”
Top Holdings: (as of 9/30/2010)

Pfizer 10.9%
SPDR Gold Shares 6.3%
John B. Sanflippo & Son 6.0%
Novartis 5.1%
Johnson & Johnson 5.0%
Value of Fund: $126 million (as of 09/30/2010)


Fund Name: Integrity Growth and Income Fund
www.integrityvikingfunds.com
Symbol: IGIAX
Investment Objective: “Competitive Total Returns; Disciplined Risk Management; Ethical Investment Standards ”
Top Holdings: (as of 9/30/2010)
Green Mountain Coffee Roasters Inc. 4.81%
NewMarket Corporation 4.33%
Emerson Electric Co. 4.01%
Snap-on Inc. 3.55%
Genuine Parts 3.40%
Value of Fund: $28.6 million (as of 01/31/2010)


Fund Name: Wells Fargo Advantage Social Sustainability Fund
www.wellsfargoadvantagefunds.com
Symbol: WSSAX; WSRCX
Investment Objective: "The Fund avoids investing in companies that we determine are significantly involved in:

manufacturing tobacco products;
manufacturing alcoholic beverages;
gambling operations; or
manufacturing weapons

The Fund will also avoid companies we determine to have weak corporate social responsibility and/or sustainability records. In assessing a company's corporate social responsibility and/or sustainability record, we consider the full integration of environmental, social and governance related factors into our analysis. The Fund seeks to invest in companies that we determine meet some of the following environmental, social and governance criteria:

Have sound corporate governance and business ethics policies and practices, including independent and diverse boards, independent auditors, respect for shareholder rights, and solid legal and regulatory compliance records;

Have good environmental compliance and performance records, develop and market innovative products and services, and embrace and advance sustainable development;

Provide safe and healthy work environments; negotiate fairly with their workers;
treat their employees with dignity and respect; and provide opportunities for women, minorities, and other categories of individuals who have been discriminated against or denied equal opportunities;

Contribute to the quality of life in the communities where they operate, such as through corporate philanthropy and employee volunteerism”

Top Holdings: (as of 9/30/2010)
Google Incorporated- Cl A 3.60%
Emerson Electric Co. 3.50%
Johnson & Johnson 3.27%
General Mills Incorporated 3.10%
Microsoft Corporation 3.04%
Value of Fund: $6.2 million (as of 11/30/2010)


Fund Name: Dreyfus Global Sustainability Fund
www.dreyfus.com
Symbol: DGYAX; DGYCX; DGYIX
Investment Objective: “To pursue its goal, the fund normally invests primarily in the stocks of companies that have sustainable operating practices and/or produce sustainable products or services and that meet certain fundamental investment criteria as described below. Companies that maintain sustainable operating practices are those, for example, that use best industry practices in their operations, provide leadership in an industry, offer the highest levels of transparency of operations and/or demand accountability of vendors, suppliers and customers. Companies that produce sustainable products or services are those, for example, that provide services to improve energy efficiency, produce products to meet the highest levels of efficiency and/or provide technologies to improve environmental performance.”
Top Holdings: (as of 10/31/2010)

International Business Machines 3.71%
Johnson & Johnson 3.45%
Rio Tinto (Britian) 2.81%
Intel 2.78%
Roche Holding AG- Genuss 2.63%
Value of Fund: $8.14 million (as of 12/23/2010)


Fund Name: Pax World Global Fund
Pax Global Green Fund
Symbol: PGRNX
Investment Objective: “The Global Green Fund’s investment objective is to seek long term growth of capital by investing in companies whose businesses and technologies focus on mitigating the environmental impacts of commerce.

The Global Green Fund seeks to invest in forward-thinking companies with sustainable business models that meet positive environmental, social and governance standards, with a particular emphasis on environmental markets. The Global Green Fund avoids investing in companies that its investment adviser determines are significantly involved in the manufacture of weapons or weapons related products, manufacture tobacco products or engage in unethical business practices.

The Global Green Fund seeks to invest in companies with positive overall environmental performance and whose products or services help other companies and societies improve their environmental performance. In this regard, the Fund invests in companies whose businesses and technologies focus on goods and services that mitigate the environmental impacts of commerce, including such areas as alternative energy and energy efficiency; water treatment and pollution control; and waste technology and resource management. The Fund avoids investing in companies with significant environmental problems or worsening environmental profiles, and applies avoidance criteria on environmental issues identical to those of the other Pax World Funds.”


Top Holdings: (as of 11/30/2010)

GEA Group AG 3.3%
Thermo Fisher Scientific Inc. 3.3%
Pall Corp(Britian) 3.2%
California Water Service Group 3.2%
ENN Energy Holdings Ltd. 3.1%
Value of Fund: $27.8 million (as of 11/30/2010)


Fund Name: Firsthand Alternative Energy Fund
Firsthand Alternative Energy Fund
Symbol: ALTEX
Investment Objective: “The Fund invests in alternative energy and energy technology companies, both U.S. and international. Alternative energy includes solar, hydrogen, wind, geothermal, hydroelectric, tidal, biofuel, and biomass. Because there are no market capitalization restrictions on the Fund's investments, the Fund may purchase stocks of any capitalization.”
Top Holdings: (as of 9/30/2010)

JA Solar Holdings Co. Ltd --
GT Solar International Inc. --
Meyer Burger Technology AG --
Trina Solar Limited- Spon ADR --
Yingli Green Energy Holding Company- ADR --
Value of Fund: $6.3 million (as of 9/30/2010)


Fund Name:Investors Summa SRI Fund
Investors Summa SRI Fund
Symbol: IGI288
Investment Objective: “Will invest primarily in Canadian companies that have adopted progressive standards and practices toward the environment, human rights, and other social issues

Will not invest in companies whose revenues are primarily derived from alcohol, tobacco, gambling, pornography or critical weapon systems.”
Top Holdings: (as of 8/31/2010)

Consolidate Thompson Iron Mines --
Potash Corp. of Saskatchewan --
Athabasca Oil Sands Corp. --
Pacific Rubiales Energy --
Power Financial Corp. --
Value of Fund: $1.121 billion (as of 9/30/2010)


Fund Name: Investors Summa Global SRI Fund
Investors Summa Global SRI Fund
Symbol: IGI589
Investment Objective: "Will invest primarily in companies from around the world that have adopted progressive standards and practices toward the environment, human rights, and other social issues.
Will not invest in companies whose revenues are primarily derived from alcohol, tobacco, gambling, pornography, or critical weapon systems."


Top Holdings: (as of 8/31/2010)

Rio Tinto --
BHP Billiton Limited --
Man Group PLC --
Noble Group Ltd. --
LG Electronics Inc. --
Value of Fund: $6.4 million (as of 1/14/2011)


Fund Name: Investors Summa Global Environmental Fund
Investors Summa Global Environmental Fund
Symbol: IGI593
Investment Objective: "Will invest primarily in companies from around the world that are creating innovative or emerging solutions to environmental issues, and/or have environmental practices that set a standard within environmentally sensitive industries."
Top Holdings: (as of 8/31/2010)

United Natural Foods --
Pure Technologies Ltd --
SMA Solar Technology AG --
Pennon Group --
IBM --
Value of Fund: $9.9 million (as of 1/14/2011)


Fund Name: RBC Jantzi Balanced Fund
RBC Jantzi Balanced Fund
Symbol: RBF303
Investment Objective: "To provide long-term capital growth, with a secondary focus on modest income by investing primarily in Canadian, U.S. and international equities and fixedincome securities. The fund follows a socially responsible approach to investing."
Top Holdings: (as of 11/30/2010)

US Treasury Note 3.125% 15-05-2019 1.5%
Ontario Prov Cda 3.25% 08-09-2014 1.5%
Barrick Gold Corporation 1.4%
Deutsche Bundesrepublik 4.0% 04-01-2018 1.4%
Royal Bank of Canada 1.3%
Value of Fund: $32.1 million (as of 12/14/2010)


Fund Name: RBC Jantzi Canadian Equity Fund
RBC Jantzi Canadian Equity Fund
Symbol: RBF302
Investment Objective: "To provide long-term capital growth by investing primarily in equity securities of Canadian companies. The fund follows a socially responsible approach to investing."
Top Holdings: (as of 11/30/2010)

Royal Bank of Canada 5.1%
Barrick Gold Corporation 4.8%
Toronto-Dominion Bank 4.4%
Potash Corporation of Saskatchewan, Inc. 3.8%
Bank of Nova Scotia 3.5%
Value of Fund: $31.0 million (as of 12/14/2010)


Fund Name: RBC Jantzi Global Equity Fund
RBC Jantzi Global Equity Fund
Symbol: RBF304
Investment Objective: "To provide long-term capital growth. The fund invests primarily in equity securities of companies throughout the world and follows a socially responsible approach to investing."
Top Holdings: (as of 11/30/2010)

Consolidated Edison Inc 1.7%
Apple, Inc. 1.5%
Schindler Holding AG 1.3%
Compass Group PLC 1.2%
BOC Hong Kong (Holdings) Ltd. 1.2%
Value of Fund: $9.8 million (as of 12/14/2010)


Fund Name: PH&N (Philips, Hager & North) Community Values Bond Fund
PH&N Community Values Bond Fund
Symbol: PHN610
Investment Objective: "To provide relatively high yields and stability of capital by investing primarily in a well-diversified portfolio of fixed income securities issued by Canadian governments and corporations that conduct themselves in a socially responsible manner. "
Top Holdings: (as of 11/30/2010)

Ontario (Prov Of) 7.6% 02-06-2027 12.8%
Ontario Prov Cda 4.4% 02-06-2019 7.4%
Canada Hsg Tr No 1 4.1% 15-12-2018 4.1%
Toronto Dominion Bank Cds FRN 01-11-2017 3.2%
Bank Of MontrealFRN 21-06-2017 2.9%
Value of Fund: $129.5 million (as of 12/14/2010)


Fund Name: PH&N (Philips, Hager & North) Community Values Balanced Fund
PH&N Community Values Balanced Fund
Symbol: PHN640
Investment Objective: "To provide long-term capital growth and income primarily through exposure to a well diversified, balanced portfolio of common stocks, bonds and money market securities of companies that conduct themselves in a socially responsible manner. To achieve these objectives, the fund will invest in securities of other Phillips, Hager & North investment funds. "
Top Holdings: (as of 11/30/2010)

PH & N Community Values Canadian Eq Sr O 36.1%
PH & N Community Values Bond Series O 34.8%
PH&N Community Values Global Eq B 26.9%
Value of Fund: $15.4 million (as of 12/14/2010)


Fund Name: PH&N (Philips, Hager & North) Community Values Canadian Equity Fund
PH&N Community Values Canadian Equity Fund
Symbol: PHN620
Investment Objective: "To provide significant long-term capital growth by investing primarily in a well-diversified portfolio of Canadian common stocks of companies that conduct themselves in a socially responsible manner. "
Top Holdings: (as of 11/30/2010)

Royal Bank of Canada 7.8%
Toronto-Dominion Bank 7.2%
Canadian Imperial Bank of Commerce 6.1%
Suncor Energy, Inc. 4.9%
Canadian National Railway Company 3.7%
Value of Fund: $60.4 million (as of 12/14/2010)


Fund Name PH&N (Philips, Hager & North) Community Values Gobal Equity Fund
PH&N Community Values Gobal Equity Fund
Symbol: PHN630
Investment Objective: "To achieve long-term capital growth by investing primarily in a well-diversified portfolio of common stocks in companies in the world's largest industrialized countries outside Canada, including the United States, and countries in Europe and the Far East, including Japan and Australia, that conduct themselves in a socially responsible manner. "
Top Holdings: (as of 11/30/2010)

Cable & Wireless Worldwide PLC 3.7%
Royal Dutch Shell PLC ADR A 2.7%
Sysco Corporation 2.7%
Progressive Corporation 2.4%
Illinois Tool Works, Inc. 2.1%
Value of Fund: $58.9 million (as of 12/14/2010)


Fund Name: TD Global Sustainability
TD Global Sustainability
Symbol: TDB483
Investment Objective: "The fundamental investment objective is to seek to achieve long-term capital appreciation by investing primarily in equity securities of companies around the globe, that are viewed as contributing to the world’s future sustainability."
Top Holdings: (as of 12/31/2010)

Rio Tinto PLC- Common 3.0%
NIKE Inc- Common 3.0%
BHP Billiton Ltd- ADR 2.6%
BG Group PLC- ADR 2.4%
Praxair Inc- Common 2.4%
Value of Fund: $11.09 million (as of 12/31/2010)

Should longterm investors begin accumulating green mutual funds?

While it is true that anytime is fine for starting a dollar-cost-averaging (DCA) mutual funds investment program, it is also a fact that there are specific times that provide more profitable entry points, and these are obviously the months after extreme declines. Also, the maxim "never try to catch a falling knife" does not apply to DCA, as that is precisely what would provide the biggest gains. Imagine going fully invested after a 15% drop and then seeing the market fall a further 28%; that's obviously a big negative. Now imagine instituting a $100 (or $500 etc) per month automatic investment plan after that first drop; your 2nd, 3rd and 4th purchases are likely to be at tremendous prices, positioning you for solid longer term growth.

Let's address the question in the title of this post: Should longterm investors begin accumulating green mutual funds?

My advice would be yes, especially if you do not have positions currently. The 3rd year in the USA presidential election cycle is usually a down year, as the honeymoon is long over and it's too soon to really pump and prime the economy for an election. This means that between now and early December the overall direction could be down, meaning more and more shares will be accumulated at lower and lower average prices. Based on historical charts, there would then be profitable selling opportunities three to seven years later, meaning that investors with time horizons of ten to fifteen years can safely start building equity via DCA programs.

The greed and corruption of the Bush years created a decade of stagnation in USA stock market values, whereas the visionary leadership of Barack Obama is likely to kick off a lucrative bull market in the twenty-teenies.

Green Mutual Funds for 2011/2012 and Longterm

Tom Konrad is a widely read green energy stocks sleuth, and this week he turned his attention once again to selecting the good Clean Energy Mutual Funds and ETFs. During the past few months, Tom has written an extended series of articles looking at clean energy mutual funds and clean energy exchange traded funds (ETFs).

Mutual funds and ETFs he considers invest in environmental services/waste management, recycling, water, and natural gas utilities. Waste management, recycling, and water each fit rather well into the clean energy context: Municipal solid waste is an excellent source of renewable biomass, recycling saves energy and so can be seen as an energy conservation measure, and water is inextricably linked to energy in many ways.

Some topics Tom Konrad has recently written on:

Costs of Clean Energy Mutual Funds
Sector Breakdown of Clean Energy Mutual Funds
Past Performance of Clean Energy Mutual Funds
Stock Picks from Clean Energy Mutual Funds
The Effectiveness of Active Management in Clean Energy
Interview with the Manager of the Top Performing Clean Energy Mutual Fund
Clean Energy ETFs in Depth
Clean Energy Mutual Fund and ETF Tax Efficiency


Read Tom Kontrad's Online Guide to Choosing Green Mutual Funds and ETFs

2011 Money: Ten Green Funds for conscious investors

Green Mutual Funds for Ethical, Sustainable Investing

Ten New Green Funds, by Ted Ketcham, editor of the GreenMoney Journal

1) Appleseed Fund

Although GreenMoney does not rank its ten new funds here, The Appleseed Fund deserves first position, given that both Lipper and Morningstar ranked it as 2008's top performing midcap value fund and SRI fund, respectively.

Investment Objective: The Fund, launched in Dec. 2006, is managed by value investors who seek to generate long-term market-beating returns by investing in quality, undervalued companies screened for social and environmental responsibility.

Investment Strategies: The Fund invests in quality companies that are undervalued by the market. Typically they seek out companies with strong competitive positions, solid financials, and capable, shareholder-friendly management teams. Profits are balanced with social and environmental impacts.

Top Ten Holdings: John B. Sanfilippo & Son (15.3%), Pfizer (8.3%), Chimera Investment Mgmt (6.4%), Schering-Plough (5.3%), Nokia (4.8%), SPDR Gold Shares (4.8%), Avon Products (4.5%), ICT Group (4.3%), Invacare (3.6%), Teradata (3.5%)

For more information go to Appleseed Fund



2) Integrity Growth & Income Fund

Although Integrity Growth & Income Fund has as its inception date January 3, 1995, in February of 2008 Fund Manager Robert Loest published an important White Paper, entitled "Ethical Investing (EI): Invest With The Values You Use In Raising Your Children," which placed the Fund and its new direction more squarely on our radar for important SRI mutual fund options. Also it's rating was recently upgraded to 4 Hearts by Natural Investments (see chart on page 11).

Investment Objective: The Fund seeks to take advantage of fossil fuel scarcity and its solutions, and the development of the middle class in emerging economies, while remaining loyal to human progress issues, social justice, environmental responsibilities, and animal rights.

Investment Strategies: Integrity's three-step methodology, outlined in the White Paper, has been an important tool in meeting the needs of ethical investors to realize positive returns consistent with ESG criteria: 1) Integrity screens for companies with high levels of cash flow and high returns on investment capital. 2) Integrity investigates relevant ethical factors. 3) Upon acceptance, Integrity conducts a full analysis of ESG, Animal Rights, and financial factors.

Top Ten Holdings: H.J. Heinz (5.0%), Agnico-Eagle Mines (4.6%), Ormat Technologies (4.3%), 3M Co. (4.1%), Arthur J. Gallagher & Co. (4.1%), Beckman Coulter (3.9%), Linear Technology (3.5%), Vestas Wind Systems A/S ADR (3.5%), Genuine Parts Co. (3.4%), ABB, Ltd. ADR (3.4%)

For more information go to Integrity Mutual Funds website



3) Wells Fargo Advantage Social Sustainability Fund

Launched in October 2008, the Wells Fargo Advantage Social Sustainability Fund seeks companies with positive environmental, social, and governance (ESG) characteristics, while employing some SRI screens.

Investment Objective: The Fund seeks long-term capital appreciation by investing in securities that meet the Fund's investment and social sustainability criteria.

Investment Strategies: The Fund will employ a two-pronged approach to its investment strategy: The Fund's managers will use an inclusive screening process to invest in companies that have positive traits related to ESG factors, in addition to avoiding stocks-such as alcohol, tobacco, gambling, or weapons manufacturing companies-based on traditional SRI screens.

Top Ten Holdings: BP PLC (4.9%), Procter & Gamble (4.6%), Novartis AG ADR (4.2%), Emerson Electric (3.5%), Johnson & Johnson (3.5%), PepsiCo (3.3%), Nike - Class B (2.9%), Microsoft (2.8%), U.S. Bancorp (2.7%), 3M Co. (2.7%)

For more information go to Wells Fargo Advantage Funds



4) Dreyfus Global Sustainability Fund

Launched in December 2008, the Dreyfus Global Sustainability Fund is managed by John O'Toole, and is among the newest of Dreyfus mutual fund products.

Investment Objective: The Fund, designed for long-term investors, seeks capital growth primarily by investing in the stocks of companies that have sustainable operating practices and/or produce sustainable products or services and that meet certain fundamental investment criteria.

Investment Strategies: The Fund's investments are focused among the major developed markets, such as the US, Canada, Japan, Australia, Hong Kong and Western Europe. The Fund, however, may invest up to 20 percent of its assets in emerging markets, but will not invest more than 10 percent of its assets in any one emerging market country.

Top Ten Country Allocations: US (22.4%), UK (21.5%), Germany (10.9%), Switzerland (6.2%), Japan (6.2%), Spain (6.0%), France (5.2%), Australia (5.1%), Netherlands (4.9%), Canada (4.3%)

Top Ten Holdings: General Electric (3.3%), Glaxosmithkline (3.2%), IBM (2.5%), Royal Dutch Shell (2.4%), Unitedhealth Group (2.1%), Kraft Foods (2.0%), Muenchener Rueckver Ag (1.9%), Axa (1.8%), Hewlett-Packard (1.7%), McDonald's (1.7%)

For more information go to Dreyfus Mutual Funds Group




CALVERT FUNDS

5) Calvert Large Cap Value Fund

With Calvert's new SAGE (Sustainability Achieved through Greater Engagement) approach, Calvert announces "enhanced engagement" with a select group of companies whose investment performance Calvert believes can benefit from a sharper focus on ESG-related risk or opportunity. The Calvert Large Cap Value Fund is the first fund within the SAGE Strategies.

Investment Objective: The Fund, re-launched last December with the SAGE Strategies, was formerly known as Summit Everest Fund, seeks long-term growth of capital by investing in large cap companies.

Investment Strategies: The Fund offers opportunities for long-term growth of capital through large-cap company equity securities that the portfolio manager believes are undervalued. Under normal circumstances, the Fund seeks to have a weighted average market capitalization of at least $10 billion.

Top Ten Holdings: BP PLC (3.1%), AT+T (2.8%), Pfizer (2.8%), Wellpoint (2.7%), Anadarko Pete (2.7%), Royal Dutch Shell PLC (2.7%), ConocoPhillips (2.5%), Marathon Oil (2.5%), Cisco Systems (2.4%), Unilever NV (2.4%)



6) Calvert Global Water Fund

Last September, Calvert launched its latest SRI mutual fund, part of a series of investment portfolios known as Calvert Solution Strategies. Their Global Water Fund, which is driven by declining world supplies and increasing demands for fresh water, seeks to invest in fresh water solutions that include conservation, recovery, and advancing technology.

Investment Objective: The Fund seeks growth of capital through investment in companies active in the water-related resource sector, using the Fund's corporate responsibility standards and strategies.

Investment Strategies: The Fund seeks to invest at least 80 percent of its net assets in equity securities of U.S. and non-U.S. companies whose main business is in the water sector or are significantly involved in water related services or technology.

Top Ten Country Allocations: US (27.9%), Spain (16.4%), UK (10.0%), Germany (7.1%), Portugal (6.9%) Denmark (4.8%), Japan (3.9%), Norway (3.8%), France (3.4%), Belgium (3.2%)

Top Ten Holdings: Veolia Environnement (5.3%), Suez Environnement (5.2%), Roper Inds (4.1%), Pentair (3.6%), Agilent Technologies (3.3%), Severn Trent (3.1%), Layne Christensen (2.8%), Geberit (2.7%), United Utilities G (2.6%), Mueller WTR Products (2.4%)

For more info go to Calvert Mutual Funds Group website



PAX WORLD FUNDS

7) Pax World Global Green Fund

Environmental challenges of the 21st century can mean both threat and opportunity. The Pax World Global Green Fund responds to the widespread environmental degradation on our planet.

Investment Objective: The Fund, launched in March 2008, is seeking long-term growth of capital by investing in companies whose businesses and technologies focus on mitigating the environmental impact of commerce.

Investment Strategies: The Fund will invest primarily in equity securities of companies located around the world, including at least 40 percent of its net assets in securities of non-U.S. issuers. The Fund seeks environmental markets - companies whose businesses and technologies include alternative energy and energy efficiency; pollution prevention and control; and waste technology and resource management.

Top Ten Country Allocations: US (34.7%), Japan (12.1%), UK (7.4%), Spain (6.0%), France (5.6%), Denmark (4.1%), Italy (2.4%), Canada (2.2%), Finland (2.4%), Hong Kong (2.0%)

Top Ten Holdings: Thermo Fisher Scientific (2.5%), Praxair (2.5%), Pentair (2.4%), Novozymes A/S (2.4%), Veolia Environnement (2.4%), Hera SpA (2.3%), Gamesa Corp. Tecnologica (2.3%), EDP Renovaveis SA (2.2%), Pennon Group PLC (2.2%), California Water Service Group (2.1%)



8) Pax World International Fund

For investors seeking to diversify by investing in foreign equities, Pax World launched their International Fund in March 2008.

Investment Objective: This International Fund's investment objective is to seek long-term growth of capital.

Investment Strategies: The Fund invests primarily in equity securities of non-U.S. issuers, and is not limited to any investment style or capitalization range. The Fund may invest in both growth and value stocks. Additionally, investments may be diversified across multiple sectors and industries, or may be focused on a limited number of sectors and industries and also may be diversified across multiple countries or geographic regions, or may be focused on a select geographic region.

Top Ten Country Allocations: Japan (21.2%), UK (11.0%), France (8.0%), Germany (6.8%), Norway (5.7%), Switzerland (5.7%), Netherlands (3.6%), Australia (3.1%), Turkey (2.5%), Greece (2.7%)

Top Ten Holdings: Currency Shares Japanese Yen Trust (4.8%), StatoilHydro ASA ADR (4.0%), Kao Corp. (2.9%), Roche Holding AG (2.6%), Eisai Co., Ltd. (2.4%), Vodafone Group PLC ADR (2.2%), HSBC Holdings PLC ADR (2.2%), Nippon Building Fund REIT (2.1%), Central Japan Railway Co. (2.1%), Veolia Environnement ADR (2.0%)



9) Pax World Small Cap Fund

Pax World also launched the Small Cap Fund in March 2008, which invests in innovative and motivated small but growing companies.

Investment Objective: The Fund seeks long-term growth of capital and invests in smaller companies that offer products, services or business strategies with clear opportunities for sustainable growth and have strong management.

Investment Strategies: The Fund invests at least 80 percent of its net assets in companies with capitalizations within the range of the Russell 2000 Index as measured by market capitalization. The Small Cap Fund may invest up to 45% of its assets in securities of non-U.S. issuers, including ADRs.

Top Ten Holdings: Pharmaceutical Product Development (3.1%), American Physicians Capital (3.0%), Burger King (2.9%), VCA Antech (2.8%), Syniverse (2.8%), Continental Airlines-Class B (2.7%), Hologic (2.5%), Capital Southwest (2.4%), optionsXpress (2.3%), Pool Corp (2.3%)

For more info go to Pax World Mutual funds official website



10) Firsthand Alternative Energy Fund

Launched in October 2007, the Alternative Energy Fund is the most recent edition to Firsthand Funds, which was started in 1994.

Investment Objective: The Fund seeks long-term capital appreciation by investing in alternative energy companies that are expected to benefit from a transition from traditional hydrocarbon-based energy systems to renewable generation and energy efficiency technologies.

Investment Strategies: The Fund invests in alternative energy and energy technology companies, both U.S. and international. Alternative energy includes solar, hydrogen, wind, geothermal, hydroelectric, tidal, biofuel, and biomass. The Fund may purchase stocks of any capitalization.

Top Ten Holdings: 1) Silicon Genesis Corp., 2) SunPower Corp. - Class B, 3) Honeywell International, 4) Echelon Corp., 5) Suntech Power Holdings - ADR, 6) 3M Company, 7) Energy Recovery, 8) Aixtron AG - ADR, 9) Orion Energy Systems, 10) Power Integrations.

The Top 10 holdings represent 37.5% of net assets.


For more info, please visit First Hand Funds mutual funds website


More Ethical Green Investing links:

PV Intell solar energy investing website

Wind Energy Stocks to Watch penny stocks blog

Online Guide to Green Mutual Funds