Many investors consider past performance, fees, and investment objectives as the sole criteria for selecting a mutual fund for investment purposes. A growing number of investors are also asking about the actions and philosophies of the companies that form a fund's underlying investment portfolio. Socially responsible mutual funds have been developed to fill this need. These funds are designed for investors who want to align their investments with their religious, political, or social convictions.

Because there is no universally accepted definition as to what makes a company responsible or an investment a socially responsible investment, socially responsible funds are quite diverse. Not surprisingly different funds may take opposite positions on certain controversial issues such as family planning, gay rights, or animal testing.

For the most part, socially responsible funds select their underlying investment firms through either a negative filter or a positive filter. A negative filter is used to screen out firms that are not considered acceptable to the positions advocated by the fund. Examples of firms that may be screened out include firms that are involved in gambling, alcohol, tobacco, or weapons. A positive filter is used to include firms that are seen to be leaders in areas advocated by the fund, such as environmental, diversity, or human rights records.

Required

a. Go to the Websites of three socially responsible mutual funds 

1. Calvert Signature Funds: https://www.calvert.com/calvert-responsible-indexes.php 

2. Domini Social Equity Fund: http://www.domini.com/investing-for-impact/ impact-investment-standards 

3. Green Century Balanced Fund: http://www.greencentury.com/funds GGreen-Century-Balanced-Fund

b. Compare the screening criteria used by each fund. How do they differ and how are they alike?