Submitted by: Domini Social Investments
Posted: Dec 10, 2007 – 12:19 PM EST
Mutual Fund Manager Recognized for Encouraging Companies to Embrace Sustainability
Mutual Fund Manager Recognized for Encouraging Companies to Embrace Sustainability
Dec. 10 /CSRwire/ - New York, NY - December 10, 2007 – Fast Company magazine and Monitor Group announced this week that Domini Social Investments, a leader in the field of socially responsible investing, has won one of the magazine's fifth annual Social Capitalist Awards. This year marked the first time that for-profit companies were eligible for this award.
The awards recognize organizations and companies for using the tools of business to solve the world's most pressing social problems, and for demonstrating a consistent and unusually large impact on society.
Describing Domini, the editors wrote, "The pioneering mutual fund manager, with $1.6 billion in assets, invests in businesses that pass rigorous social and environmental standards. Domini also files 15 to 20 shareholder resolutions each year and lobbies portfolio companies to improve environmental and social practices." The magazine emphasized the influence of Domini's shareholder activism program, saying that it has convinced companies like Apple, Kimberly-Clark, and Starbucks to commit to more sustainable business strategies. All winners are featured in the December/January 2008 issue of Fast Company, with expanded online coverage at www.fastcompany.com.
"This award is a tribute to the Domini Funds' thousands of investors, who put their investments to work not only for their families’ future but to build a better future for all of us," said Amy Domini, founder and CEO of Domini Social Investments. "Our firm is built on the idea that the way you invest matters - that investors, if we harness our power and think beyond next quarter's profits, can change companies, change Wall Street, and ultimately change the world. In choosing to invest sustainably and responsibly, our shareholders make change happen every day."
Domini was one of only ten for-profit companies - and the only mutual fund manager - to be named Social Capitalists for 2008. The others were Better World Books, Developing World Markets, Equal Exchange, Herman Miller, New Leaf Paper, Organic Valley, Seventh Generation, SustainAbility, and ShoreBank. In addition, the magazine named 45 nonprofit winners.
"We are especially delighted to share this honor with a number of organizations with whom Domini has worked closely over the years, and in particular with ShoreBank, the country's leading community development bank and our partner in offering the Domini Money Market Account," said Carole Laible, president and COO of Domini Social Investments. "This account offers investors an opportunity to receive competitive cash yields while providing capital to the communities that need it most. ShoreBank does extraordinary work, and is a perfect example of a business that truly makes a difference."
In the selection of the Social Capitalist Award winners, companies and organizations were evaluated according what Fast Company calls "five critical components": social impact, entrepreneurship, innovation, aspiration and growth, and sustainability. Each applicant provided two years of operating data and audited financial data, a statement of mission and objectives, and answers to questions on strategy and activities. Winners were selected by an independent board of experts on various sectors.
Domini Social Investments and its founder and CEO Amy Domini have received many other honors in recent years. Earlier in 2007, Plenty magazine honored Domini Social Investments as one of 20 companies that are changing the world. Amy Domini was named to Time magazine's "Time 100" list of the world's most influential people in 2005, and was also included in SmartMoney magazine's "Power 30" list of Wall Street's thirty most influential people (2004), Money magazine's "50 Smartest Women in the Money Business" (2000), and Barron's "All Stars," a list of 25 of the fund world’s "heaviest hitters" (2000).
Call Domini at 1-800-762-6814 or visit www.domini.com to learn more about the Domini Funds or to open an account.
About Domini Social Investments
Domini Social Investments manages $1.5 billion in assets for individual and institutional mutual fund investors seeking to create positive change in society by integrating social and environmental standards into their investment decisions. Two fundamental principles underlie the global investment standards that Domini applies to each of its investment products: the promotion of a society that values human dignity and the enrichment of our natural environment. Domini views these twin goals as crucial to a healthier, wealthier, and more sustainable world. More information about Domini and the Domini Funds is available at www.domini.com.
Domini is the investment advisor of the following mutual funds:
Domini Social Equity Fund (NASDQ: DSEFX)
Domini Social Equity Portfolio (NASDQ: DSEPX)
Domini Institutional Social Equity Fund (NASDQ: DIEQX)
Domini European Social Equity Fund (NASDQ: DEUFX)
Domini European Social Equity Portfolio (NASDQ: DEEPX)
Domini European PacAsia Social Equity Fund (NASDQ: DUPFX)
Domini European PacAsia Social Equity Portfolio (NASDQ: DUPPX)
Domini PacAsia Social Equity Fund (NASDQ: DPAFX)
Domini PacAsia Social Equity Portfolio (NASDQ: DPAPX)
Domini Social Bond Fund (NASDQ: DSBFX)
About Fast Company magazine
Founded in 1996 and acquired in 2005 by Mansueto Ventures, LLC, award-winning Fast Company magazine covers the ideas, trends, and visionaries that are sparking change and creating the future of business. With a total paid circulation of 746,161, Fast Company explores the profound innovation, creative breakthroughs, best and "next" practices that are driving the business world.
About Monitor Group
Monitor Group is a leading global professional services firm working with corporations, governments, and social-sector organizations to help them drive growth. Employing over 1,500 people in 22 countries worldwide, Monitor offers a blend of advisory, capability building, and capital services.
Each investor should consider the Domini Funds' investment objectives, risks, charges, and expenses carefully before investing. Obtain a copy of each Fund's current prospectus for more complete information on these and other topics by calling 1-800-762-6814 or at www.domini.com. Please read the prospectus carefully before investing or sending money.
Past performance is no guarantee of future results. Economic and market conditions change, and both will cause investment return, principal value, and yield to fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, call 1-800-762-6814 or visit www.domini.com. A 2.00% redemption fee is charged on sales or exchanges of shares made less than 30 days after the settlement of purchase or acquisition through exchange, with certain exceptions. See the Fund's prospectus for further information. The Domini Funds are subject to market risks and are not insured.
Unlike a mutual fund, the rate of return for the Domini Money Market Account is determined by ShoreBank and will vary from time to time. Please note that you will be able to access your Domini Money Market Account only through Domini Social Investments. Domini Social Investments will act as your agent for the purpose of making deposits to and withdrawals from your DMMA account and will maintain the records of your account. You will not be able to access your account or obtain balances by contacting ShoreBank directly. The DMMA is subject to certain FDIC insurance limits of $200,000 per depositor.
Investing internationally involves special risks, such as currency fluctuations, social and economic instability, differing securities regulations and accounting standards, limited public information, possible changes in taxation, and periods of illiquidity. These risks are magnified in emerging markets.
The Domini Funds are not affiliated with any bank and are not insured by the FDIC. DSIL Investment Services LLC, and ShoreBank are not affiliated.
DSIL Investment Services LLC (DSILD), Distributor. 12/07