A new shareholder advocacy Web site has been designed to advise investors if their mutual funds own any companies that could weigh on returns due to their policies on key environmental issues. The site, www.cookingyournestegg.com is expected to go live on Wednesday, according to Reuters.
According to its backers, the socially responsible fund watchdog will post specific findings on how 71 companies held by the 24 largest U.S. equity funds are coping with global warming. The 71 companies were screened from a list of 224 top holdings in the funds, which collectively have $827 billion in assets under management.
The data will show which fund holdings may jeopardize investor returns along with those that have taken a proactive approach to combat global climate issues. The data is collected from KLD Research & Analytics, a company that collects information on corporate activities for investors who express concern over various social issues.