Magazine article Management Review

New Alternatives: The Green, Clean Fund

Magazine article Management Review

New Alternatives: The Green, Clean Fund

Article excerpt

You can invest in "clean" stocks and still make a profit Take the case of New Alternatives, a small diversified mutual fund based in Great Neck, N.Y

New Alternatives bills itself as "a fund concentrating in solar and alternative energy investment," on its prospectus. True to its word, the fund invests in such companies as Energen and Burlington Resources, two firms that produce methane gas from unused coal seams and mix the methane with natural gas for use by utilities. Other companies listed on the fund's portfolio include Apogee, a company that makes energy efficient glass, and Chesapeake, a paper recycling firm. To fulfill their mandate as a socially responsible" fund, the fund managers screen companies that they are considering for their portfolio for EPA violations, as wen as investments in the defense industry or in South Africa.

When the fund was started in 1982 by father and son Maurice and David Schoenwald, an initial five or six supporters, "mostly friends," says David, came up with a pot of just $100,000. …

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