MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, October 22, 2001 Social Investors Get Giving Fund Calvert is rolling out a new fund designed for charitable donors. The socially-conscious firm is offering the Calvert Giving Fund which will be open to both individuals and institutions. The fund follows in the footsteps of offerings from both Fidelity and Vanguard among others, but is the first to invest with a social mandate claims Timothy Freundlich, director of strategic development for Calvert Foundation. The fund has also set a lower minimum ($5,000) than other funds of this type, according to the firm. The donations to the fund are invested across the 13 Calvert funds. These funds are typically targeted at wealthy individuals and used as part of an estate planning program. In opening an account, the donor makes an irrevocable contribution to the donor advised fund (a 501-c-3 public charity). The donor receives an immediate tax deduction for the amount of the gift. The donor then may recommend gifts to non-profit charities on her or her own timetable. Printed from: MFWire.com/story.asp?s=27053 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |