I'm very interested in putting my money to work for good causes, especially ones with a positive environmental impact. However, I'm also aware of my my need to make money off of my investments. I don't want to work forever. I've heard time and again that Index funds will outperform 3/4 of all mutual funds after fees. My question is, is there any good place to put my money that will be environmentally sound and profitable? I'm especially interested in any fund which concentrates on green initiatives that will make a difference in the economy and move us away from destructive practices. Solar, Wind, Thermal, and Wave power are all great, and the way of the future, I hope. I'd love to put my money in that. Green transportation is also something I would support.
I'm a member of the Sierra club, and will probably continue to support them through what contributions I can afford, but their magazines regularly have ads for environmentally friendly funds. This one was from the latest issue, which promises environmental criteria (unspecified)
The Panassus Equity Income Fund Promises a ten year return of 11.19% vs 10.90% for the S&P500. The Gross expense Ratio is 1.07% and the Net Expense Ratio is 0.99%. How does this compare to the S&P 500 in real terms?
Can anyone suggest any other environmental funds that actually make money?