The U.S. socially responsible mutual fund market simply isn't generous enough for a new entrant to make a successful play for assets.

Friends Ivory & Simes, a relatively new participant in the socially responsible mutual fund arena, has decided to shutter its only two funds and withdraw from the U.S. market entirely. The company continues to manage wrap account assets in the U.S., but under a less rigorous socially screened mandate, said a company spokesman.

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