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 |
|
Tuesday, August 27, 2002 Gambling is Inevitable During the course of 2002, socially responsible investing has made huge headway in the consciousness of the American investor. Well, Mutuals.com is betting that Americans have not yet lost their taste for vice. So, the firm is launching a new offering: the Vice Fund. Dan Ahrens, head of the firm, spoke at the SunStar/Quasar press briefing here in New York City today. "This is the first open-ended fund of its kind," he contended. "Through good times or bad, these industries continue to function just fine." The Vice Fund invests in companies from the tobacco, alcohol, gambling, and defense industries. "If you look at SRI funds, a number of these offerings mirror the S&P 500. They just simply take out equities in these areas. The companies we invest in are solid old economy stocks with solid financials. Philip Morris (NYSE: MO) has averaged 17 percent growth per year for the last 30 years," he argued. "If you want to support a political cause, do so with your vote, do so with your extra cash, but don't do it with your investments," the executive added. On the issue of the law suits and state government regulations against cigarettes, Ahrens replied, "That is a concern. But other states have mandated that there can be no suits against tobacco for the next 10 years. And while consumption is down a little in the United States, it remains up over the rest of the globe." The fund will be available to investors starting September 3. Ahrens told the MutualFundWire.com that the firm would be placing the fund on most of the supermarkets. The fund, however, will not be on the Schwab platform as Mutuals.com found that service to be too expensive. On the tschoitchke front, the fund has cocktail coasters with its name on it. More information about the fund can be found by following this link. Printed from: MFWire.com/story.asp?s=3389 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |