June/July 1983 RAIN Page 19 myth that companies that are socially responsible are bad risks. Our experience over the last eleven years shows that is not the case. RAIN: How are shareholders involved in the operation and success of the fund? PARKER: There are a couple particularly helpful things that people can do. One is that we encourage shareholders to suggest companies for investment. Also, if shareholders hear something about a company they think we might not be aware of, or are surprised to find something in the portfolio (of the Fund's investments), they can write us a letter and let us know what they've heard, particularly if they have documentation. RAIN: Has Calvert's Social Investment Fund had an effect on other investment funds? PARKER: There has been a lot of movement in this area. I wouldn't say Calvert's fund is the cause of it. There are several different kinds of organizations, including church funds and people who are involved in private investment management in the socially concerned investment area. People from all those areas are getting together now to discuss socially responsible investing and ways that we can cooperate with each other in research, public information, etc. We've been working with brokers and financial managers, and many of them have come to see that socially responsible investing isn't as flaky as they thought it was. RAIN: Investment patterns are reflections of people's expectations of the future. Is the growth of the Social Investment Fund connected to a larger trend? PARKER: A lot of people are trying to figure out what's going to happen in the future. The Fund is an expression of people wanting to do something positive and also wanting to take some responsibility in the area of money for making something happen. The Fund is an expression of commitment to creating the future the best way we can. on ACCESS: Social Investing NEWSLETTERS SOCIAL INVESTMENT INVESTMENT MONITORS FUNDS Council on Economic Priorities Newsletter Council on Economic Priorities 84 Fifth Ave. New York, NY 10011 8-12/yr., $15 Also publishes studies and reports on practices of U.S. corporations. Lists 99 publicly traded corporations tagged "socially irresponsible." Good Money Center for Economic Revitalization, Inc. Box 363 Worcester, VT 05682 Bi-monthly, $108 institutions, $36 individuals and nonprofits, $12 low income See RAIN, IX:3, p. 13, for a description of this publication. Calvert Social Investment Fund 1700 Pennsylvania Ave. Washington, DC 20006 800/368-2748 Uses social criteria in both its Money Market Portfolio, a short term fund using U.S. Government agency securities, and its Managed Growth Portfolio, a longer term fund of stocks, bonds, and mortgages. Dreyfus Third Century Fund 767 Fifth Ave. New York, NY 10153 800/645-6561 A common stock fund with considerations for environmental protection, occupational health and safety, purity of consumer product, and equal employment opportunity. Project on Corporate Responsibility 1609 Connecticut Ave. Washington, DC 20009 Organizes investors to exercise their rights as stockholders to maximize their influence on corporate behavior. Stop Banking on Apartheid 2160 Lake St. San Francisco, CA 94121 415/752-7766 Has an alternative investment packet with basic and specific investment information. Inter-Faith Center on Corporate Responsibility 475 Riverside Dr. New York, NY 10115 212/870-2295 Renewable Energy Stock Report Renewable Energy News PO BOX 32226 Washington, DC 20007 Quarterly, $40/yr., $12/issue A constantly changing list of more than 100 publicly traded North American securities. PAX World Fund PAX World Management Organization 224 State St. Portsmouth, NH 03801 603/431-8022 A fund organized by the Methodist Board of Christian Social Concerns; avoids defense related companies and invests in housing, health care, and pollution control. Plant closure, apartheid, and investment formation. Investor Responsibility Research Center 1522 K St., NW Washington, DC 20005 202/833-3727 Apartheid information.
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