A new report compiled by a Californian environmental financial group charged socially responsible mutual funds (SRIs) with diluting their investment objectives by increasingly moving into mainstream stocks, like Microsoft and Wal-Mart, The Christian Science Monitor reports.

The San Francisco-based Natural Capital Institute (NCI) said some SRIs now own up to 90% of the stocks found on the Fortune 500 list, and the portfolios of successful mutual funds are increasingly following conventional investment strategies.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.