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January 24, 2000
New Fund Smoothes the Fur of Animal Lovers
Salomon Brothers collaborates with the Humane Society to launch a mutual fund with an
animal-friendly bent.
SocialFunds.com --
Animal welfare is a top priority for many values-oriented investors concerned about the humane
treatment of pets, livestock, animals in research, and wildlife. The Humane Society of the United
States (HSUS), a tireless advocate for all animals, has helped to create a mutual fund that answers
to those concerns.
 The Humane Equity Fund launched last week
is the product of a year's unique collaboration between HSUS and Salomon Brothers Asset Management,
a subdivision of Citigroup managing over $26 billion ($US). Using guidelines established by The
HSUS, the new fund is designed to avoid investing in companies that directly harm animals and their
habitats.
"Our mission in managing The Humane Equity Fund is to provide successful
investment results and to support the ideals and ethics of animal protection," said Chad Graves,
the portfolio manager of the fund. "We are happy to be working with The Humane Society in this
effort."
The Humane Equity Fund is a no-load fund that seeks long-term growth of capital
by investing in a blend of growth- and value-oriented common stocks, consistent with animal welfare
concerns. The fund management draws on 25 years of experience in socially responsible investing in
applying its animal-friendly screening process.
In particular, the fund will not invest in
pharmaceutical companies, cosmetic companies where there is any question about the use of animal
testing, companies that use animals in an end product, such as meat-packers and furriers, and
companies with products adverse to the humane treatment of animals, i.e. hunting equipment. The
fund will also positively screen for companies whose policies and operations promote the humane
treatment of animals.
The HSUS, which already relies upon the expertise of Salomon
Brothers for some of its own investment portfolio, supplied the initial seed investment of $8
million in the fund. As a consultant to the Humane Equity Fund, the HSUS will be sharing its 45
years experience as an animal protection group, as well as the potential investments of its
millions of supporters.
"The Humane Society of the United States is pleased to be working
with Salomon Brothers to create a product that enables our 7 million constituents, and everyone
else who cares about animals, an opportunity to invest in a fund that combines an animal protection
ethic with the sound investment management of one of the nation's most successful mutual fund
companies," said HSUS President Paul G. Irwin.
The Humane Equity Fund is not the first
animal welfare mutual fund to grace the scene, joining earlier efforts such as the Cruelty Free
Value Fund managed by Beacon Global Advisors, Inc. But with the high profile of HSUS, the nation's
largest animal protection organization, and the support of its members, this new fund is sure to be
barking up the right tree.
©
SRI World Group, Inc. All Rights Reserved.
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