Hi- I have about $3000 saved up that I want to invest in a mutual fund. I have an account with an online broker, but their research tools are hard to use. I am interested in investing in something like green energy or anything that is environmentally responsible (and also has a decent return!) The recent post said that there are mutual funds for any kind of special interest (religious, etc.) so there must be something for green interests! Can you give me any tips?

I was reading the latest Newsweek today and they actually have an article that covers this:

http://www.msnbc.msn.com/id/18109222/site/newsweek/

It might not be as in-depth as you are looking for, but it does name some specific funds that could give you a good starting point for further research.

my fiancee had a green mutual fund with janus. the performance was horrible. I moved her out of it as soon as I got control of finances.

Most online brokers have links to research reports from companies like Argus or S&P. Once you get the names of a few funds, go find the research reports on those, which more often than not compare the fund to its competitors (and now you have a bigger list to research).

Michael Bluejay, who has a wonderful electricity guide I've linked to several times before, has an interesting introduction to socially responsible investing. I'll write this up for the blog sometime in the next month or two...

Here's a good article on morningstar.com, too, which talks about how to choose the best green fund for you.

http://news.morningstar.com/article/art ... ?id=190007

Something to consider however -- and this may or may not matter to you -- one of the ones they mention as being one of the best in the category, PAXWX, still tracks way below the Dow, and most socially responsible funds do. A lot of it depends on your objectives.