rffrydr
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 Posted: Tue Jan 15, 2008 11:31 pm Post subject: Christian Funds open the Heavenly Gates |
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To every season turn, turn, turn:
| Quote: | Christian fund leads faith-based investors
By Deborah Brewster in New York
Published: January 13 2008 22:01 | Last updated: January 13 2008 22:01
The Timothy Plan, a mutual fund group that invests according to “pro-family, biblically based” Christian values, was the top performing faith-based fund in the US last year.
Timothy’s returns were higher than those of most hedge funds and beat 35 other faith-based funds, including the Amana Trust funds, strong performers that invest according to Islamic principles.
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It also did better than the Ave Maria group, which invests according to Catholic values; the Presbyterians’ New Covenant funds; and the Guidestone Funds, the Southern Baptist heavyweight that has more than $10bn under management.
Faith-based funds are a rapidly growing part of America’s $10,000bn mutual fund industry. They hold $17bn in assets, compared with less than $400m 10 years ago, according to Morningstar, the fund tracker.
Timothy’s biggest fund, the Large/Midcap Value fund, returned more than 17 per cent for the year and has averaged 18.6 per cent a year for five years, according to the tracker.
The fund’s website states that its goal is “to recapture traditional American values. We are America’s first pro-life, pro-family, biblically based mutual fund group.”
It adds: “If you are concerned with the moral issues (abortion, pornography, anti-family entertainment, non-married lifestyles, alcohol, tobacco and gambling) that are destroying children and families, you have come to the right place.”
Launched in 1994, Timothy has about $500m under management in funds designed “to avoid investing shareholders’ money in companies that exhibit a pattern of contributing to the cultural pollution of society”.
That eliminates at least half of the companies in the S&P 500 index as more of them adopt policies that give benefits to same-sex couples, for example. |
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