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Balanced Fund for Institutions

Overview Performance Portfolio Characteristics Portfolio Managers

The Balanced Fund is an actively managed fund comprised of equities and fixed-income securities. It typically holds 60% to 70% of its net assets in multi-cap stocks and 30% to 40% in investment-grade quality bonds. The Green Century Balanced Fund seeks to invest in well-managed companies that avoid fossil fuels and align with your company’s green and sustainable values.

The Balanced Fund was an early investor in green bonds and now has over 72% of its fixed-income portfolio in green and sustainable bonds.[1]

The Green Century Balanced Fund also gives retail investors access to an institutional- quality investment process from Trillium Asset Management, a leader in socially responsible investing since 1982.

Balanced Fund Overview

Net Assets (9/30/2025)

Fund: $118.90 million

Daily Price (NAV)

$36.85

Daily NAV Change

-$0.06

NAV as of

11/14/2025

Adviser

Green Century Capital Management°

Subadviser

Trillium Asset Management

Key Facts

Launch Date:
March 1992

Symbol:
GCBUX

CUSIP:
392768701

Minimum Investment/Fund
$250,000

Sales Charge
None, No 12b-1

Expense Ratio:
1.16%

Quick Links

Fact Sheet
Green Bonds Fact Sheet
Prospectus
Holdings
Funds Distributions
Regulatory Filings
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Why Invest

The Green Century Balanced Fund provides institutions with a way to invest in bonds and stocks in one mutual fund. The Green Century Balanced Fund keeps your company’s dollars out of fossil fuel companies and other similar environmentally harmful companies so your investment can align with your institution’s environmental values.

The Balanced Fund is actively managed and has the majority of its fixed income portion in renewable and green bonds that finance environmental protection projects around the globe.

Objective

The Green Century Balanced Fund seeks capital growth and income from a portfolio of stocks and bonds which meet Green Century Fund standards for corporate environmental responsibility.

Sustainable Investment Strategy

Values-aligned exclusions:

  • Coal, oil, and or gas companies (no exploration, extraction, processing, refining, or transmission)
  • Tobacco
  • Nuclear energy and nuclear weapons
  • Producers of GMOs (genetically modified organisms), guns and other civilian weapons, military weapons
  • Factory Farming
  • Alcohol, gambling, and adult entertainment

Fundamental Analysis and ESG Integration:

  • The Fund’s Subadviser uses quantitative measurements in combination with in-house and third-party research to analyze the stocks of companies identified using Green Century’s environmental criteria
  • The Subadviser, Trillium Asset Management, has its own proprietary ESG integrated investment process, and includes in the Fund’s portfolio those companies that appear to possess superior earnings growth prospects and whose stock prices, in the Subadviser’s opinion, do not accurately reflect the companies’ value. 
  • The Subadviser’s integrated environmental, social, and governance (ESG) investment process includes both industry benchmarking and in-depth company analyses that covers both qualitative and quantitative considerations.
  • Bonds are included in the Green Century Balanced Fund’s portfolio to balance or offset risks associated with the Fund’s investment in stocks.

 

A sustainable investment strategy that incorporates environmental, social, and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

[1] As of Sept. 30, 2025, green and sustainable bonds comprised 72.04% of total bonds held in the Green Century Balanced Fund.

Fund Performance

Cumulative Returns as of 9/30/25 Average Annual Total Returns as of 9/30/25
Latest Quarter Year to Date One Year Three Years Five Years Ten Years Since Inception
Green Century Balanced Fund Institutional Share Class (GCBUX) 3.56% 8.17% 6.00% 12.11% 7.45% 8.07% 7.15%
Custom Balanced Index [2] 5.40% 10.83% 11.64% 16.44% 10.11% 9.91% 7.40%

Performance is calculated after fees.

The total annual operating expense ratio of the Balanced Fund Institutional Share Class is 1.16% respectively, as of the most recent prospectus.

The performance information provided on this website is past performance for the Balanced Fund, and past performance is not a guarantee of future results. Investment return and principal value of an investment within the Balanced Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. To obtain performance current to the most recent month-end, please call 1-800-93-GREEN. Performance includes the reinvestment of income dividends and capital gains distributions. The performance of the Balanced Fund shown does not reflect the deduction of taxes that a shareholder might pay on Fund distributions or the redemption of Fund shares. A redemption fee of 2.00% may be imposed on redemptions or exchanges of shares you have owned for 60 days or less. Please see the prospectus for more information.

Portfolio Characteristics

Top 10 Holdings

As of 9/30/25: (27.42% of net assets)

NVIDIA Corp 5.58%
Microsoft Corp 4.83%
Apple, Inc. 3.96%
Alphabet, Inc., Class A 3.91%
Mastercard, Inc., Class A 2.18%
Costco Wholesale Corp 1.59%
Alphabet, Inc. 1.36%
Export Development Canada 1.35%
Bank of America Corp 1.34%
TJX Companies, Inc. 1.32%

View the complete holdings of the Balanced Fund.

Sector Allocation

As of 9/30/25:

Asset Allocation

As of 9/30/25:

Common Stocks: 63.43%
Bonds: 35.63%
Cash and Equivalents: 0.94%
Institutional Investor Net Asset Value per Share: $36.96

Portfolio Managers for Institutions

Investment Advisor:
Green Century Capital Management

Green Century provides investment advisory services to the Balanced Fund, including overseeing Trillium Asset Management’s daily portfolio management. Green Century also coordinates the fund’s operations and compliance functions, as well as shareholder advocacy efforts.

 

Investment Sub-advisor and Portfolio Manager:
Trillium Asset Management

The Balanced Fund’s sub-advisor is Trillium Asset Management, which has been providing day-to-day portfolio management since 2005. Trillium has been a leader in sustainable and responsible investing for over 40 years. A team of four portfolio managers at Trillium is responsible for the day-to-day management of the Balanced Fund.

Matt Patsky

CEO and Portfolio Manager, Trillium Asset Management

Matt Patsky is CEO and Lead Portfolio Manager of the unaffiliated Trillium ESG Global Equity strategy and Portfolio Manager of the Trillium Sustainable Opportunities strategy. Matt has over three decades of experience in investment research and investment management. He began his career at Lehman Brothers as a technology analyst, where he began to incorporate environmental, social, and governance factors into his research. As Director of Equity Research for Adams, Harkness & Hill, he built the firm’s powerful research capabilities in socially and environmentally responsible areas such as renewable energy, resource optimization, and organic and natural products. Before Trillium, Matt worked at Winslow Management Company in Boston, where he served as director of research, chair of the investment committee, and portfolio manager for the Green Growth and Green Solutions Strategies.

Matt is also a member of the Social Venture Circle (SVC), is a member of the CFA Society Boston, and is a Chartered Financial Analyst charter holder.

Cheryl Smith

Economist, Portfolio Manager

Cheryl leads the fixed income management process and serves as co-manager of the Green Century Balanced Fund, for which Trillium is the unaffiliated sub-advisor. She began her investment management career at Trillium in 1987. In 1992 she joined Boston Trust & Investment Management Company (now known as Walden Asset Management) as Vice President and Portfolio Manager, before rejoining Trillium in the fall of 1997.

She is a Chartered Financial Analyst charterholder and a member of the CFA Institute and the American Economic Association. Cheryl holds a B.S.F.S. degree from Georgetown University School of Foreign Service, and earned M.A., M. Phil., and Ph.D. degrees in Economics from Yale University.

Kathleen Bochman

Portfolio Manager

Kathleen Bochman is a co-portfolio manager on Green Century Balanced Fund.  She joined the unaffiliated Trillium in 2024 following significant experience in sustainability investing. Prior to Trillium, Kathleen was a Senior Director of Investor Relations – ESG at Moderna and a Managing Director – ESG at Fidelity Investments. She got her start in sustainability at Loomis Sayles & Company, where she served as Director of ESG, following earlier roles as an equity analyst, Director of Equity Research, and portfolio manager for the company. Before pivoting to sustainability investing, Kathleen was a fixed income analyst at Wellington and State Street Research. She began her career at Andersen Consulting.

Kathleen earned a B.A. in Psychology from Dartmouth College and an MBA from Columbia University. She is a CFA® Charter holder from the CFA Institute and holds the CFA Institute Certificate in ESG Investing.

Cyrus McMillan

Portfolio Manager

Cyrus provides support in the areas of macroeconomic analysis, fixed income portfolio management, and community investment due diligence, Prior to joining the unaffiliated Trillium, Cy worked as a Research Associate on the ESG team of Glass, Lewis & Company, analyzing shareholder proposals and developing voting recommendations for institutional investors.  He was also previously a Research Analyst at Amplifier Strategies, supporting the development and implementation of impact investing strategies for philanthropic family offices. Cy is a Chartered Financial Analyst charterholder and a member of the CFA Institute and CFA Society San Francisco. He earned his B.A. in Economics from Dartmouth College.