One of our more interesting portfolio manager interviews in recent weeks was with Robert Leech and George Rue of the Presbytarian Church (USA) Foundation. They talked to us a little bit about their investment style- socially responsible investing.
TWST: How would you describe the socially responsible nature of the portfolio investment and what does it entail?
Mr. Rue: There are two main approaches to our SRI strategy. The first approach and the most visible is negative screens. We screen companies that have a majority of their revenues in alcohol, gambling, tobacco and firearms, as well as a limited number of defense companies. We work together with the Presbyterian Church and a broad group of Presbyterians to develop a social witness policy that can also identify other companies we may want to preclude from investment. More important, as a socially responsible investor, we focus on corporate engagement, working ecumenically with other faith-based investors to engage corporations in dialogue concerning their practices on issues relating to the environment, access to capital, human rights policies, labor policies and workplace issues. Our corporate engagement takes a variety of forms from corporate dialogue to writing letters and sponsoring shareholder resolutions.
For the full interview with George Rue and Robert Leech, including a complete analysis of the market for a socially responsible perspective, click here.
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