|
December 17, 2008
Calvert Announces Launch of Three New Funds
by Robert Kropp
Offerings follow consolidation with Summit Mutual Funds and include a large cap fund employing a
new investment strategy.
SocialFunds.com --
In September, UNIFI, a mutual holding
company, announced plans to consolidate the operations of its two affiliated mutual funds, Summit
Mutual Funds and Calvert Group. Under the
terms of the transaction, Calvert Asset Management would purchase the mutual fund operations of
Summit Investment Partners and become the advisor to the Summit Mutual Funds.
As a result of the September announcement by
UNIFI, Calvert has introduced three new funds to its mutual fund product line: Calvert Large Cap
Value Fund, Calvert High Yield Bond Fund, and Calvert Short-Term Government Fund.
Formerly
known as the Summit Everest Fund, the Calvert Large Cap Value Fund seeks long-term growth of
capital by investing in large cap stocks that the portfolio manager believes are undervalued. Large
cap companies are those with a market capitalization value of more than $10 billion.
The
large cap fund is the first to utilize a new Calvert SAGE ("Sustainability Achieved Through Greater
Engagement") approach to sustainable and responsible investment. Calvert SAGE investment portfolios
emphasize engagement to advance environmental, social and governance (ESG) performance in companies
that may not meet standards at present, but are designated by Calvert as working towards
sustainability in key areas.
Calvert believes that its SAGE approach will offer its
investors the opportunity to invest in a broader universe of companies than was previously
available.
Formerly the Summit High Yield Bond, the Calvert High Yield Bond Fund seeks a
high level of current income by investing in companies whose financial condition gives them greater
value relative to other companies in the high yield market.
Formerly the Summit Short-Term
Government Fund, the Calvert Short-Term Government Fund invests 100% of its assets in fixed income
instruments issued by the US government, or derivative instruments related to such investments.
SRI investment criteria are not applied to either the Calvert High Yield Bond Fund or the
Calvert Short-Term Government Fund.
As of December 15, 2008, Calvert offers 57 funds.
©
SRI World Group, Inc. All Rights Reserved.
Top
| 
