Word: mutually
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Dates: during 2000-2009
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...some reason, the market's constant stream of worries takes on added significance in the fall. It may be that some investors simply lose interest over the summer and come back after Labor Day ready to scrutinize everything. Fall is also a time when mutual-fund managers sell losers to lock in tax benefits...
...Domini is a capitalist tool from a different mold. "Making money," says the mutual-fund mogul, "is different from stealing money." Companies that manufacture cigarettes, pollute rivers or sell sweatshop goods are robbing from the public welfare, as she sees it. Capital is the tool Domini uses to knock them over the head...
Domini did not invent socially responsible investing. Shareholder activism grew up during the Vietnam War and the anti-apartheid struggle. Today some 150 mutual funds screen out politically incorrect companies. But more than anyone, Domini made ethical investing a mass-market option. Ten years ago, with two partners, she set up the Domini 400 Social Index, a benchmark for responsible portfolios. Its companies must pass muster on 140 issues, ranging from toxic-waste fines to diversity in top management. Yet Domini has kept pace with the S&P 500--a feat managed by fewer than a third of other mutual...
...Before, people would just carve out evil companies," says John Biggs, head of TIAA-CREF, the pension-fund giant, which launched its own social fund. "Amy brings investment discipline with social concerns." Domini's latest crusade: persuading the $7 trillion U.S. mutual-fund industry to post shareholder-resolution votes on its websites. "It's outrageous that managers are not telling investors how they vote," says Domini. "The small investor wants to fatten her wallet, but she also wants to breathe clean air and work in a safe environment...
FUND DEPOT Think you can do better than your fund manager? FOLIOfn.com lets you purchase three "folios," or folders, with up to 50 stocks for $29.95 a month. Choose from more than 80 prepackaged folios or build one yourself. Unlike mutual funds, there are no minimums, and you decide when to take a tax bite. Trading is free twice a day, but real-time trades cost $14.95. Folios are catching on. The next several months will see the launch of copycat companies, including NetFolio and UNX.com...