Calvert has launched three new funds, the Calvert Large Cap Value Fund, Calvert High Yield Bond Fund and Calvert Short-Term Government Fund.
The Calvert Large Cap Value Fund was formerly known as the Summit Everest Fund, but it will continue to be run by former Summit Lead Portfolio Manager James R. McGlynn and Assistant Portfolio Manager Yvonne M. Bishop. This fund will be run under a new SAGE philosophy at Calvert, standing for Sustainability Achieved through Greater Engagement, that will give managers a broader investment mandate than previously, by permitting them to invest in companies that are working on sustainability issues.
The Calvert High Yield Bond Fund will be run by Greg Habeeb, senior vice president and head of the taxable fixed income investment team, along with two new recruits from Summit, Assistant Portfolio Managers Kevin Aug and Sam Cooper.
Habeeb will also be portfolio manager of the new Calvert Short-Term Government Fund, which will invest in short-term U.S. government securities with a dollar-weighted, average effective maturity of less than three years, with a goal of maximizing current income while preserving capital.