Calvert Social Index Fund Receives 4-Star Morningstar Rating.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--Aug. 13, 2003 Calvert, the nation's largest family of socially responsible mutual funds, announced that the Calvert Social Index The Calvert Social Index is a stock market index created by the Calvert Group as a benchmark of large companies that are considered socially responsible or ethical. It currently consists of 468 companies, weighted by market capitalization, selected from approximately 1,000 of the Fund (Ticker:CSXAX) has received a 4-star rating by Morningstar. The Fund is rated 4-stars for three years among 919 funds, and 4-stars overall among 919 funds in the Large Cap Growth category as of July 31, 2003. The Calvert Social Index Fund is managed to track, as closely as possible, the Calvert Social Index(TM) (Ticker:CALVIN), which is constructed by taking the 1,000 largest companies in the U.S., representing stocks listed on the NYSE NYSE See: New York Stock Exchange , NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , and AMEX AMEX See: American Stock Exchange , and ranking them in descending order based on their market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . Calvert's Social Research Department analyzes each company in the base of 1,000 companies. A social audit is conducted in the following areas: environment, workplace issues, product safety, community relations, corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , military weapons contracting, international operations and human rights, and respecting the rights of indigenous peoples. The stocks that meet Calvert's social criteria make up the Calvert Social Index. For more about how the Index is constructed and for a list of its component companies, go to www.calvert.com/sri_calvertindex.asp. Past performance is no guarantee of future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return Risk-Adjusted Return A measure of how much risk a fund or portfolio takes on to earn its returns, usually expressed as a number or a rating. Notes: This is often represented by the Sharpe Ratio. The more return per unit of risk, the better. measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive three stars, the next 22.5% receive 2 stars, and the bottom 10% receive one star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. Morningstar Rating is for the A share class only; other classes may have different performance characteristics. For more complete information about any Calvert mutual fund, call 800.368.2748 for a free prospectus or go to our Web site at www.calvert.com. Read it carefully before you invest. Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , a subsidiary of Calvert Group, Ltd. #4501, 8/03. |
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