Keeping faith with responsible investing
Two new ETFs offer 'biblically responsible' investing approach, avoiding shares in companies that involve 'vices'.
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SERVING both God and money has long been an aim of fund companies that exclude "sin stocks" of companies dealing in tobacco, guns, gambling and the like from their investments.
Now, two new exchange-traded funds (ETFs) offer a conservative evangelical - what is called "biblically responsible" - tilt to that investing approach. The funds explicitly say in their regulatory filing that they will avoid buying shares in companies that have "any degree of participation in activities that do not align with biblical values", including the lesbian, gay, bisexual and transgender "lifestyle." The approach is squarely at odds with that of nearly all of corporate America.
Ninety-two per cent of the Fortune 500 companies include "sexual orientation" in their non-discrimination policies and 82 per cent include "gender identity."
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