Products June 13, 2007
Calvert Launches Alternative Energy Fund
In response to a survey showing that investors are concerned about climate change and alternative energy, Calvert has introduced the Calvert Global Alternative Energy Fund.
Reported by Rebecca Moore
The fund invests in a broad universe of U.S. and non-U.S. stocks, seeking companies that are alternative energy market leaders as well as those building a significant presence in the sector, Calvert said in a press release. KBC Asset Management International, a Dublin-based firm, will be sub-adviser to the new fund.
“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,” said Steve Falci, Calvert’s Chief Investment Officer, Equities, in the press release.
The “Calvert Climate Change/Alternative Energy Survey” found that more than three out of four U.S. investors (76%) are concerned “about global warming and what climate change could mean in terms of major changes’ during their lifetime and those of their children and grandchildren. In addition, the release said nearly nine out of 10 respondents (85%) agreed that alternative energy investments – such as wind, solar and other sources of clean power – represent a dual opportunity to support the environment and generate profit at the same time.
However, Calvert found that only one in five investors who use a financial professional responded affirmatively when asked if they had discussed investing in alternative energy with a financial adviser.
More information on the Calvert Global Alternative Energy Fund and an Executive Summary of Calvert’s survey, conducted for Calvert by Opinion Research Corporation (ORC) and polled 1,094 investors, can be found at www.calvert.com.