4.24.2006 ET

(CSRwire) PORTSMOUTH, N.H.--(BUSINESS WIRE)--April 24, 2006--Citizens Advisers, the investment manager to Citizens Funds, today released the results of a new survey conducted during the first quarter of this year with readers of Registered Rep magazine. With overall consumer interest in socially responsible investing (SRI) on the rise, the survey found that registered investment advisors (RIA's) still show a bias when it comes to recommending SRI to their clients. The survey found that the average respondent has only 2.5% of assets in SRI funds and only 20% research and recommend SRI funds.

The survey also found however, that nearly one in four expects to increase assets under management in SRI funds over the next two years and approximately 45% said they would use SRI funds at a client's request. Additionally, 40% say they would find it very easy to fit SRI funds into asset allocation models.

The survey was mailed to 3,000 registered investment advisors and received a statistically significant response rate of 25 percent. Respondents had an average of 16 years in the industry with approximately $44.1M assets under management. Most respondents were fee-based and 45% offered both load and no-load products.

Despite this demonstrated bias by RIA's, the percentage of non-SRI investors with an interest in SRI funds has increased to 54% in 2005, up significantly from 1999, (this according to a January 2006 survey of retail investors conducted by Yankelovich on behalf of Calvert Funds). In fact, assets in SRI mutual funds have grown over 400% from approximately $7.4B to over $40B in just eight years according to data provided by Morningstar. The number of SRI mutual funds is up from about
65 funds in 1998 to over 200 today.

"The survey points out that those advisors who research socially responsible mutual funds tend to have a more positive view about these products," said Andrea Pollinger, senior vice president of marketing for Citizens Advisers. "It is our job to provide the tools and information advisors need to help them expand their business to a growing segment of individual investors who want better returns and a better world," said Pollinger.

"Of interest in this benchmark research is the fact that 40% of the respondents recognize that SRI funds fit easily into asset allocation models," said Warren N. Bimblick, senior vice president of Prism Business Media's Financial Services Group which publishes Registered Rep. "This research further reinforces our September 2005 article that pointed out how 'savvy investors' - including major institutions and high-net-worth individuals- (are finding) that SRI screening techniques provide an additional layer of scrutiny that is particularly useful in a post-Enron, post WorldCom environment.

About Citizens Advisers:

Founded in 1982, with $850M in assets under management, Citizens Advisers has been a thought leader in its approach to investment management and socially responsible investing. With a core focus on strong, long-term performance, Citizens' mission is to generate the best possible returns for clients by investing in companies that are fundamentally strong and socially responsible. Citizens' unique investment management approach revolves around its proprietary integrated research that takes into account financials, in combination with all the variables that affect prospects for success and growth over time. For more information, please visit, www.citizensfunds.com

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