Faith-based mutual funds have doubled since 1999, and ethical investing continues to draw adherents (see “Christ’s Returns,” CT, Sept. 3, 2001, p. 78).
Now comes the backlash: Mutuals.com‘s Vice Fund, which invests in gambling, tobacco, alcohol, and defense companies, and just added a video game company. “No matter what the economy’s doing, people keep drinking and smoking and gambling, no matter what,” fund co-manager Dan Ahrens told ABC News.
The fund has not invested in pornography since those publicly held companies don’t perform well. “I think people should invest to make money. And when they have money, they should donate money to good causes,” Ahrens says.
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Related Elsewhere
www.VICEFUND.com includes a prospectus, shareholder report, and a study of the past performance of the alcohol, tobacco, gambling, and defense stock industries. For more information on what the fund deals in, see PRWeb for a press release.
Christianity Today’s 2001 article on faith-based mutual funds looks at Ethical investing—the thoughtful consideration of ethics and values in investment decisions.
