Submitted by Progressive Asset Management, Inc.
(This release is an update. A press release on the above-referenced title dated June 4, 2007 was inadvertently and prematurely made public. A corrected version is expected within the next few days.)
OAKLAND, CA - June 4, 2007 - In another groundbreaking achievement, Progressive Asset Management has created a first-of-its-kind Hybrid Energy Principal-Protected Certificate of Deposit. The CD will give investors an opportunity to profit from the performance of a basket of energy-related commodities while guaranteeing the return of the original principal invested if held to maturity.
Progressive Asset Management (PAM) Chairman Peter Camejo said: "We're been working for some time now to raise awareness of issues surrounding global warming and the depletion of energy resources worldwide. We have finally succeeded in bringing to our investors an investment solution that recognizes the realities of the global energy environment, while protecting their original investment. At the same time, we've arranged to donate - at no cost to our clients - a portion of the proceeds generated by this new CD to Earth Share, a national network of 400 of the country's most respected environmental and conservation organizations. We’re very pleased to continue PAM's tradition of being a leader in developing innovative investment products."
The CD will track the performance of three energy-related commodity benchmarks: oil, natural gas, and alternative energy. SRI investors can take comfort in the knowledge that the CD will only track the performance of prices of the oil and natural gas components, and will not invest in any oil or natural gas-producers themselves. The alternative energy portion of the basket will be based on the WilderHill Clean Energy Index®.
If held for the entire 5 year term, the CD investor will receive either a percentage of the investment performance of the basket containing the three commodities mentioned, or their original investment, whichever is greater.
This CD is the first of a series of similar investment products that PAM hopes to develop in the future. These vehicles can be used to address potential crisis areas related to a variety of ecological issues, including climate change, food production, water resources, air quality and others, all while providing the investor with protection of their invested principal.
The CD is being offered by Financial West Group (FWG), and can be purchased exclusively through PAM/FWG Financial Advisors.
PAM is the socially responsible investment division of Financial West Group (FWG). FWG is an NASD member and a registered investment advisor.
Providing individuals and institutions with access to Socially Responsible Investment options since 1987.
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