A coalition of Midwestern Catholic organizations called the Catholic Fraternal Alliance is creating a new family of mutual funds that will be offered through a powerful distribution network.

The charitable group has created the Catholic Alliance Funds, expected to be available in March, and will include an equity income, a large-cap growth and a capital appreciation fund. All three funds will invest only in companies that adhere to Catholic values, according to a draft prospectus filed with the SEC in December.

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