Green Century Shareholders Vote for Continued Investment in the Domini 400 Social Index
Boston, MA, November 13, 2006 ––The shareholders of the Green Century Equity Fund ("Equity Fund") expressed overwhelming support for continued investment in the venerable Domini 400 Social Index (the "Index"). By voting to appoint Green Century Capital Management, Inc. ("Green Century") as Investment Advisor of the Equity Fund, the Fund's shareholders approved the continuation of the Fund's strategy of investing in the world's oldest and most widely recognized environmentally and socially responsible index. The Equity Fund has been invested in the Index for over a decade, and as of December 2006 the Green Century Equity Fund will be the only mutual fund tracking this pioneering index created by KLD Research & Analytics, Inc. ("KLD").
The Green Century Funds Board of Trustees reaffirmed its support for continuing the Equity Fund’s strategy of tracking the Index by authorizing a meeting of the Equity Funds' shareholders on November 6th. At the meeting, 93% of the shareholders' votes were in support of the proposed changes to the structure of the Fund's management and in favor of continued investment in the Index.
Already in effect are lowered fees for the Green Century Funds. In August, Green Century lowered the total annual expenses of the Equity Fund from 1.50% to 0.95% and the Green Century Balanced Fund from 2.39% to 1.38%. The combination of lower fees and continued investment in the Index positions the Green Century Equity Fund to attract new investors.
"We are encouraged by the shareholders' strong show of support for continuing to invest in the Index," said Douglas H. Phelps, Chairman of the Board of the U.S. Public Interest Research Group ("U.S.PIRG"), one of the non-profit environmental advocacy organizations that founded Green Century. "The Domini 400 Social Index has a sixteen year track record of screening for socially and environmentally responsible investments. We felt it was important to continue offering this core equity holding to our current investors and to the broader investing public. We are pleased our shareholders agree."
The partnership of KLD and Green Century brings together two firms that helped build the foundation of socially responsible investing in the early 1990s.
Peter Kinder, President of KLD, agrees: "It is important to continue to offer interested investors the opportunity to invest in the Domini 400 Social Index through a retail mutual fund. We are very happy to partner with Green Century, which has a near fifteen-year history of environmental investing and a commitment to improving corporate behavior through its vigorous shareholder advocacy program and powerful proxy voting history. The Equity Fund provides a long-term investing opportunity for environmentally and socially conscious investors."
Green Century highly values the diverse environmental and social screens that the Index offers the Equity Fund's investors. The Index is comprised of four hundred companies, including approximately 250 from the S&P 500® Index, that have positive performance in environmental responsibility, community relations, diversity, employee relations, human rights, product quality and safety, and corporate governance. The market capitalization weighted Index avoids companies that are involved with alcohol, tobacco, firearms, gambling, nuclear power, and military weapons. The Equity Fund, like many other mutual funds invested primarily in stocks, carries the risk of investing in the stock market. The large companies in which the Equity Fund’s portfolio is invested may perform worse than the stock market as a whole.
Green Century Capital Management is an investment advisory firm focused on environmentally responsible investing. Founded by a partnership of non-profit environmental advocacy organizations in 1991, Green Century’s mission is to provide people who care about a clean, healthy planet the opportunity to use the clout of their investment dollars to encourage environmentally responsible corporate behavior. Green Century believes that shareholder advocacy is a critical component of responsible investing and actively advocates for greater corporate environmental accountability.
KLD Research & Analytics, Inc. is an independent investment research firm providing investment management tools used by professionals to serve clients requiring investment strategies based on social and environmental responsibility. Since 1988, institutional investors, managers, trustees, consultants and advisors have depended on the quality and expertise of KLD. Institutional money managers worldwide use KLD’s research to integrate environmental, social and governance factors into their investment decisions. KLD products and services, including SOCRATES (a web-based, company research tool) are used for screening, compliance and asset gathering.
You should carefully consider the Green Century Funds' investment objectives, risks, charges, and expenses before investing. To obtain a prospectus that contains this and other information about the Funds, call 1-800-93-GREEN, visit www.greencentury.com or email email@example.com. Please read the prospectus carefully before you invest or send money.
Distributor: UMB Distribution Services, LLC 11/06
> Back To News Listings