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07485 August 8, 2007
Presbyterian Foundation cited for socially responsible investing
by Toya Richards Hill Presbyterian News Service
LOUISVILLE - The Presbyterian Foundation
[http://www.presbyterianfoundation.org/] has been recognized nationally as a leader in socially responsible investing.
The Social Investment Forum Foundation listed the Presbyterian Foundation as one of the leading United States foundations using social or environmental screening along with traditional financial analysis as criteria for their investment strategy.
The information was included in the 26-page handbook "Mission in the Marketplace: How Responsible Investing Can Strengthen the Fiduciary Oversight of Foundation Endowments and Enhance Philanthropic Missions" recently released by the Forum Foundation, a Washington, D.C.-based nonprofit organization providing research and educational programs on socially and environmentally responsible investing.
"We are pleased to have been recognized by the Social Investment Forum Foundation as leaders in the area of Socially Responsible Investing," Robert E. Leech, president and chief executive officer of the Presbyterian Foundation, said in a press release.
"We are not only committed to work with our clients and donors to help grow, preserve and provide financial resources, but also to do so in a manner consistent with their principles of Christian stewardship," he said.
The Presbyterian Foundation, which supports the mission of the Presbyterian Church (U.S.A.), is the sponsor of New Covenant Funds, a faith-based family of socially responsible mutual funds. New Covenant Funds is one of the largest retail faith-based mutual fund complexes in the U.S. and has more than $1.5 billion in assets under management.
"Responsible investing provides the prudent trustee with strategic tools for simultaneously creating social value and unlocking shareholder value," the Forum Foundation's handbook said. "When implemented in a disciplined manner ... all strategies of responsible investing can help build true long term wealth for the foundation and for society."
Other foundation leaders in social and environmental screening recognized include the United Methodist Foundation and the United Church Foundation.
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