SRI and Fund Performance
Both empirical and academic studies (ASrIA
library) suggest that there is no systemic reason for SRI funds
to underperform. Indeed much analysis confirms that SRI funds can perform as well as their
benchmarks and often outperform. As with any other fund category, the
state of the market will influence performance overall.
FTSE4Good Index
FTSE4Good is an index series for socially responsible investment designed by FTSE, one
of the world's leading global index providers. There are four benchmark and four tradable
indicies facilitating investment in companies with good records of coporate social responsibility.
Website: http://www.ftse.com/indices_marketdata/FTSE4Good/index_home.jsp
Domini Social Index
The Domini Social Index (DSI), a capitalisation weighted
market index of 400 common stocks screened according to broad social and
environmental criteria, has outperformed the S&P 500 stock index on a
total return basis since it went live in 1990.
|
DS 400 Index Performance Statistics
|
|
Total Return as of 07/31/03
|
DSI 400 |
S&P 500 |
| July 2003 |
2.83%
|
1.76%
|
| YTD |
14.65%
|
13.71%
|
| Last Qtr |
15.38%
|
15.39%
|
| One
Year |
12.40%
|
10.64%
|
| Three
Year * |
-10.38%
|
-10.20%
|
| Five
Year * |
-0.47%
|
-1.02%
|
| Ten
Year * |
11.17%
|
10.29%
|
| * Annualized Returns |
 DSI Comparative Cumulative Performance Chart
Website: http://www.kld.com/benchmarks/dsi.html
Citizen's Index (CI)
Comprised of approximately 300 companies, the index was designed as a representation of diversified exposure to large-cap growth stocks with the objective of long-term capital appreciation. What sets the Citizens Index apart is the integration of social screening into its investment analysis process. In addition to traditional fundamental research, companies are subjected to rigorous social and environmental screening in an attempt to eliminate companies whose corporate behavior or line of business could become an impediment to performance. We believe this aspect of the investment process provides a unique value ?simply unavailable through traditional fund managers.
Because the Citizens Index is a socially responsible index, it does not include every industry represented in the S&P 500. The Index is over weighted in what we consider to be more promising sectors such as telecommunications, financial services, healthcare and consumer products.
Citizens Index vs. S&P 500 Index
Updated as of 8/15/03 |
| Time Period |
Citizens Index |
S & P 500 Index |
Variance |
| 1995 |
41.01% |
37.58% |
+3.43% |
| 1996 |
26.24% |
22.96% |
+3.28% |
| 1997 |
37.19% |
33.36% |
+3.83% |
| 1998 |
45.04% |
28.58% |
+16.46% |
| 1999 |
29.65% |
21.04% |
+8.61% |
| 2000 |
-19.62% |
-9.10% |
-10.52% |
| 2001 |
-17.34% |
-11.89% |
-5.45% |
| 2002 |
3.43% |
3.23% |
+0.15% |
| First Quarter 2003 |
-2.78% |
-3.15% |
+0.37% |
| Second Quarter 2003 |
14.37% |
15.39% |
-1.02% |
| July 2003 |
2.85% |
1.76% |
+1.09% |
| August 2003 |
-0.16% |
0.15% |
-0.31% |
| Cumulative since inception (12/31/94) |
164.13% |
149.51% |
+14.62% |
Website: http://www.efund.com/individual/philosophy/citizensindex.asp
Ethibel Sustainability Index
Website: http://www.ethibel.org/subs_e/4_index/sub4_3.html
Dow Jones Sustainability Indexes
Launched in 1999, the Dow Jones Sustainability Indexes
are the first global indexes tracking the financial performance
of the leading sustainability-driven companies worldwide. Based
on the cooperation of Dow Jones Indexes, STOXX Limited and SAM they
provide asset managers with reliable and objective benchmarks to
manage sustainability portfolios. More than 49 DJSI licenses are
currently held by asset managers in 14 countries to manage a variety
of financial products including active and passive funds, certificates
and segregated accounts. In total, these licensees presently manage
2.3 billion EUR based on the DJSI.
The Dow Jones Sustainability World Indexes (DJSI
World) is derived from and fully integrated with the Dow Jones Global
Indexes. They share the same methodology for calculating, reviewing
and publishing the indexes. The DJSI World consist of more than
300 companies that represent the top 10% of the leading sustainability
companies in 60 industry groups in the 33 countries covered by the
biggest 2500 companies in the Dow Jones Global Index.
The Dow Jones STOXX Sustainability Indexes (DJSI
STOXX) are derived from and fully integrated with the Dow Jones
STOXX Indexes. The DJSI STOXX consist of a pan-European and a Eurozone
index - the DJSI STOXX and the DJSI EURO STOXX. The DJSI STOXX track
the financial performance of the top 20% of the companies in the
Dow Jones STOXX 600 index in terms of sustainability.
DJSI World Historical Data in USD and in Euro:
http://www.sustainability-indexes.com/htmle/data/indexvalues_djsiworld.html
DJSI STOXX Historical Data in USD and in Euro:
http://www.sustainability-indexes.com/htmle/data/indexvalues_djsistoxx.html
DJSI World Component Lists:
http://www.sustainability-indexes.com/htmle/data/components_djsiworld.html
DJSI STOXX Component Lists:
http://www.sustainability-indexes.com/htmle/data/components_djsistoxx.html
DJSI Monthly Update including performance charts and risks figures:
http://www.sustainability-indexes.com/htmle/news/monthlyupdates.html
Individual Funds
Click here
for Performance of Socially Responsible Mutual Funds in the USA
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