Not even the Calvert Social Index Fund
could escape the affects of Enron
and other corporate scandals, according to The Wall Street Journal
. Calvert had resisted investing in Enron because of its environmental record. But when those practices were "cleaned up" to Calvert's satisfaction, Calvert began investing in the firm. Unfortunately, for the fund company, there are no screens for cooking the books.
The article also contends that more investors are seeking out socially responsible funds as they are looking to be shielded from companies that engage less-than-palatable practices.
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