Citizens Trust challenges socially responsible funds to make money.PORTSMOUTH, N.H.--(BUSINESS WIRE)--Feb. 18, 1997-- Citizens Trust, today, called on Socially Responsible mutual fund companies to "shape up". Concerned that too many SRI mutual funds were hiding poor financial performance behind social screens, they have declared that "Performance with Responsibility" must be the standard. To prove it is possible, Citizens Trust is posting the monthly results of their Citizens Index versus the S&P 500 in major personal finance magazines and on their website, www.efund.com . The Citizens Index which consists of 300 companies that passed the Citizens Trust social screens had a return of 32.9% for the one year ended 1/31/97 versus the S&P 500's return of 26.4% for the same one year period. "It's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a for all of us to leave the green ghetto, throw off the Birkenstocks and tell the world that these extra screens can be an advantage," said Sophia Collier Sophia Collier is the founder and chair of the Board of Directors of Citizens Advisers, Inc. and is the creator of the Citizens IndexSM, an index of socially responsible large-capitalization companies. , President of Citizens Trust, "Bad performance has more to do with bad portfolio management than social screens." With its unique Efund once again ranked as the #1 performing money market portfolio in America, its Citizens Income Portfolio among the top five performers in the Lipper US Government Bond category and the Citizens Index Portfolio outperforming the Vanguard Vanguard Any of three unmanned U.S. experimental satellites. Vanguard I (1958), the second U.S. satellite placed in orbit around Earth (after Explorer 1), was a tiny 3.25-lb (1.47-kg) sphere with two radio transmitters. Index 500 by over 3.5% for one year total return for the period ended 1/31/97, the socially responsible fund family is aggressively asserting as·sert tr.v. as·sert·ed, as·sert·ing, as·serts 1. To state or express positively; affirm: asserted his innocence. 2. To defend or maintain (one's rights, for example). its contention that SRI funds must and can perform at the highest levels in the mutual fund industry. (The Efund was ranked #1 out of 288 money market funds tracked by Lipper Analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. Services, Inc. for the one period ended 1/31/97. The Efund benefited materially from a fee waiver The voluntary surrender of a known right; conduct supporting an inference that a particular right has been relinquished. The term waiver is used in many legal contexts. of 0.5% that the adviser says will remain in place at least until 2/28/97. The Citizens Income Portfolio was fifth among 171 funds tracked by Lipper Analytical Services, Inc. for the period ended 1/31/97. For the one year period ended 1/31/97 the Citizens Index Portfolio returned 29.8% while the Vanguard Index 500 returned 26.2% ) The #1 Efund, for instance, benefited from the corporate responsibility screens used by all Citizens Trust portfolios, last December when it rejected Mercury Finance based on consumer lawsuits it was facing. Mercury Finance was the Company that later failed to meet a $17 million payment on commercial paper and rocked the money market industry. The thoroughness of the Citizens Trust Social Screens has earned it a rating of A- (no one has a higher rating) from the Franklin Insight's newsletter on all of its portfolios except the B+ earned by the Citizens Global Equity. "Shareholders have not invested in our family of funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". as another form of philanthropy philanthropy, the spirit of active goodwill toward others as demonstrated in efforts to promote their welfare. The term is often used interchangeably with charity. ," said Collier. "I'm not going to tell you that all of our funds are performance leaders, but 65% of our assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. have an A rating from Lipper." Though its primary focus is financial performance, Citizens Trust screens its portfolios for social responsibility, looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. positive corporate conduct in such areas as environmental protection and anti-discrimination policies. It avoids companies that derive significant revenue from nuclear power, tobacco and alcohol products, firearms This is an extensive list of small arms — pistol, machine gun, grenade launcher, anti-tank rifle — that includes variants. : Top - 0–9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A
Citizens Trust offers seven socially responsible mutual funds. They are the Efund, the Citizens Emerging Growth Portfolio, Citizens Income Portfolio, Citizens Index Portfolio, Citizens Global Equity Portfolio, Muir California Tax-Free Portfolio and the Working Asset Money Market Portfolio. -0- Performance data quoted represents past performance which does not guarantee future results. Investment return and principal value in the Citizens Portfolios will fluctuate so that shares, when redeemed re·deem tr.v. re·deemed, re·deem·ing, re·deems 1. To recover ownership of by paying a specified sum. 2. To pay off (a promissory note, for example). 3. , may be worth more or less than the original cost. An investment in the Citizensportfolios, Working Assets  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. Money Market Portfolio and E is neither insured nor guaranteed by the US Government. There is no assurance that the Working Assets Money Market Portfolio or the E fund will be able to maintain a stable net asset value of $1.00 per share. The Citizens Index and the S&P 500 are unmanaged indices generally representative of common stock performance. Direct investments cannot be made in these indices. To make an actual investment in the Citizens Index Portfolio will involve fees, which are not reflected in the performance reported here. Both the Vanguard Index 500 and the Citizens Index Portfolio seek to replicate rep·li·cate v. 1. To duplicate, copy, reproduce, or repeat. 2. To reproduce or make an exact copy or copies of genetic material, a cell, or an organism. n. A repetition of an experiment or a procedure. the investment performance of their respective indexes. The Vanguard Index 500 has total operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. of .20% while the Citizens Index Portfolio has expenses of 1.82%. PLEASE CALL US AT 1-800-223-7010 FOR A FUND PROSPECTUS WITH COMPLETE DETAILS OF FEES AND EXPENSES. PLEASE READ IT CAREFULLY BEFORE YOU INVEST OR SEND MONEY. DISTRIBUTED BY CITIZENS SECURITIES PORTSMOUTH, NH 03801 -0-
Citizens Trust 1 yr. 1 yr. 3 yr. 3 yr. Assets
Portfolios Total Lipper Total Lipper ($)
as of 2-13-97 Return Ranking Return Ranking
Citizens Emerging
Growth 16.50% C 21.50% A 57,779,440
Citizens Income 4.60% A 6.30% A 34,940,121
Citizens Index 28.70% A NS 194,595,239
Citizens Global 15.90% C 9.90% C 21,771,700
Muir California 1.70% E 2.80% E 11,944,988
Working Assets MMP 99,376,350
Efund 19,114,552
Total Assets: 439,522,390
CONTACT: Citizens Trust Jeff Reusse 603-436-5152 jreusse@efund.com |
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