A new socially responsible exchange-traded fund has expanded its aversion of particular stocks, such as tobacco and firearms, to include companies that do business in Sudan, where hundreds of thousands of people have been killed in ethnic fighting, the New York Daily News reports.
“A growing number of investors want their investments to match their values,” said Christian Magoon, director of product development at Claymore, which is offering the fund, the Claymore/KLD Sudan Free Large-Cap Core Fund. “They want to see what they own, and maybe more importantly, what they don’t own.”
“People feel that bringing attention to the issue through the investment process will bring change on the diplomatic front,” added Chris McKnett of KLD Research & Analytics.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.