Calvert, the largest socially and environmentally responsible investing mutual fund family, has launched the Calvert Global Alternative Energy Fund (CGAEX). The Fund invests in a broad universe of U.S. and non-U.S. stocks, seeking out companies that are alternative energy market leaders as well as those building a significant presence in the sector.
Said Steve Falci, Calvert’s Chief Investment Officer, Equities, “The Calvert Global Alternative Energy Fund is a sector-specific fund that offers exposure to alternative energy with attractive diversification potential for both socially responsible (SRI) and non-SRI global investors. Our newest fund expands Calvert’s line up of international equity offerings for individual investors, advisors, and institutions who are looking for the long-term, strategic benefits of including an allocation to global alternative energy in their portfolios.”
Calvert named KBC Asset Management International (KBC), a Dublin-based firm, as sub-advisor. KBC’s investment professionals have strong expertise in the fast growing, nascent alternative energy sector, a long history in socially responsible investing, and a strong reputation in multi-cap global investing. KBC, which launched one of the first global mutual funds with an alternative energy focus in 2000, has $20 billion in assets under management (as of 12/31/06), and $3.5 billion in socially screened assets, including its alternative energy portfolio.
KBC employs a three-step investment process in selecting stocks for the fund. Through this highly disciplined approach to stock selection, KBC creates a universe of stocks, then establishes fund sub-sector target allocations, and finally creates the portfolio though stock analysis, weighting, and application of risk controls. The creation of the universe involves tapping numerous sources, including the firm’s External Advisory Panel, consisting of a diverse range of European experts on alternative energy and general energy issues.
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