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Rating:Calvert Swings On Five Stars Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, November 07, 2000

Calvert Swings On Five Stars

Reported by Tamiko Toland

Calvert Group, known for its "socially-responsible" investments, has brought out two new products, the Large Cap Growth Fund and Technology Fund.

Now officially merged with the Bridgeway Social Responsibility Portfolio, the Growth Fund was opened to allow Calvert to take advantage of Bridgeway's performance history; since the merger, Calvert's fund rating incorporates the data of the older Morningstar 5-star rated portfolio. Bridgeway, which now sub-advises for the Bethesda, Maryland-based fund firm, is a small Houston-based fund company which shares Calvert's socio-economic agenda.

Despite double-digit performance, the Bridgeway fund had been undercapitalized at $10 million in assets and suffered inefficiency from limited social responsibility research infrastructure.

The management fee ranged from 150-200 basis points before the merger but has now dropped to 90-115 from the significant reduction of expenses.

"Their social screening is top-notch and they have an awesome distribution network," lauded John Montgomery, Bridgeway's portfolio manager. "The other side of that decision had to do with our mission. This relationship better enables us to promote social activism and community investing."

Bridgeway, which offers no-load funds, has committed to invest half of its advisory fee to charity. The aggressive front-end loaded Calvert Technology Fund is managed by Turner Investment Partners. This relationship also blends Calvert's specialty research with Turner's earnings-focused investing. 

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