This is interesting.
Calvert Launches New 'Socially Responsible' Stock Index
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NEW YORK -(Dow Jones)- The Calvert Group has launched a new "socially
responsible" investing index, called the Calvert Social Index.
The index consists of 468 companies that are weighted on a
market-capitalization basis. Calvert constructed the index starting with
the 1,000 largest companies in the U.S. From that group, Calvert
analysts screen out companies based on environmental, human rights and
workplace practices issues.
The index also screens out companies involved with tobacco, alcohol,
gambling, nuclear power, or those that violate fair-labor practices and
equal employment opportunity standards.
The Vanguard Group, the nation's second-largest mutual fund firm, said
it will license the Calvert Social Index and offer a mutual fund based
on the index.
The index will be reconstituted once a year based on a revised list of
the 1,000 largest companies. Quarterly changes will be made to reflect
social analysis decisions.
The index's top five holdings will be Cisco Systems Inc. (CSCO), Intel
Corp. (INTC), Microsoft Corp. (MSFT), Oracle Corp. (ORCL) and American
International Group Inc. (AIG).
Based in Bethesda, Md., Calvert manages $6.5 billion in assets.
-By David Franecki, Dow Jones Newswires; 201-938-2205;
david.franecki@dowjones.com
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2000 Dow Jones & Company, Inc.
All Rights Reserved
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