There are plenty of socially-responsible mutual funds out there, but now Kelmoore Investment Company is taking that concept and applying it to their managed account product.

Kelmoore's new Redwood Account will utilized Piper Jaffray's Philanthropic & Social Investment Consulting screening process, which identifies companies with involvement in environmental pollution, nuclear power, weapons production, "vice" industries (alcohol, gambling and tobacco), as well as human rights violators.

Investors can also identify other issues to screen out or to include in, such as pollution prevention.  

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