Almost from the time they were created 30 years ago, socially responsible mutual funds were routinely dismissed as the ill-conceived love child of trust-funded tree huggers and their spendthrift financial advisers. The conventional wisdom was that they didn't make much money.
But the times, they have achanged. Socially responsible investments (SRIs) are all the rage these days, and it turns out they are competitive with their less benevolent counterparts. Over the past five years, socially responsible funds that invest in large-cap companies earned an average 11.99% return. Regular large-cap funds managed 12.60%. While that's still a disparity, it's not huge, and...
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