It can pay to have a social conscience, especially if you think green.
Socially conscious investing mutual funds, which factor environmental, social and corporate governance consequences into their selections, have been attracting more interest, with assets growing from $12 billion in 1995 to $178.7 billion today, according to the Social Investment Forum.
A performance leader in this group is the environmentally motivated Winslow Green Growth Fund. Though somewhat volatile, it has a three-year annualized return of 18 percent and a one-year return of 17 percent.
"Hurricane Katrina was an inflection point for more people understanding the correlation between carbon release, global warming and storms," said Jackson Robinson, president of Winslow Management Co. in Boston and co-portfolio manager. "People are now saying, `Look, we've got a problem with energy and need big, bold, new green solutions.'"
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