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Buzzy phrases are used to put a halo over some mutual funds, but the devil’s in the definition
In life, ethics are in the eye of the beholder. In investing, ethics are up to the whims of your fund manager.
With little regulation governing what a fund manager can call a “socially responsible” or “ethical” investment, a myriad of bespoke standards have popped up. Increasingly, these fund strategies are designed to beat the market rather...