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Subject: Re: So few non-US SRI funds
From: Juan Iribarne
Date: 02/25/00
Im writing from Argentina. I have recently found out about socialfunds.com, and became interested in the demand for SRI funds outside of the US. I am coordinated with experts in the financial field a mutual fund which will soon be launched here in Argentina (my background and experience is in social issues). To summarize, let me say that the concept behind our "Social Responsibility Shared Return Fund" will be similar to the one in DEVCAP shared return fund, with two main differences:
1)the fund will be a closed end mutual fund which invests its assets completely in argentine government bonds denominated in dollars, with fixed rates of return (a recent emission by the Argentine government was established at an annual nominal rate of 12.125%) The risk of default here is practically zero.
2)investors will donate their returns above an earning equal to 6% (nominal rate). Donations will be transferred to specific social projects which the investor will choose between the options provided by tyhe fund. A social team in the fund will monitor these projects and informs investors about their progress and results.

If you would like more information, please contact me.

Juan Iribarne
Buenos Aires, Argentina

 

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