A new mutual fund from Blue Investment Management, the Blue Fund, caters to Democratic sensibilities by seeking out companies that make political donations to Democratic candidates or political action committees and embrace progressive values, CNNMoney.com reports.
It will invest in companies listed in the advisor's proprietary Blue Index, a market-cap weighted index comprised of all companies in the S&P 500 that "give blue and act blue."
"The Democratic investor with a political conscience has until now had no opportunity to put investment dollars to work in a politically focused way," the fund's prospectus states.
By progressive values, it goes on to say, that means that the fund will seek out companies that respect human rights, are environmentally sensitive and avoid dealing with tobacco, firearms or other harmful products.
That said, the fund admits that it may not be able to deliver returns as strong as other domestic equity funds.
Daniel de Faro Adamson, chief executive officer of Blue Investment Management, will serve as portfolio manager of the fund.
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