Barron's Lists ESG Money Funds
Barron's writes "11 ESG Money-Market Funds That Can Replace Your Regular One," which tells us, "The rush toward sustainable equity funds has overshadowed the humble sustainable money-market fund. Money funds -- where you might park your cash while waiting for the market to offer some tempting bargains -- don't get much respect these days, given rock-bottom yields. You don't have to give up yield, however, to be in a sustainable one that practices environmental, social, and governance, or ESG, investing." The article explains, "On the theory that investors need [ESG] cash options, too, Barron's used Morningstar Direct to screen for money-market funds that Morningstar identifies as sustainable. We ranked by fund size, and where possible, included the fund share class with the lowest minimum investment.... The universe of sustainable money-market funds is a small one -- and the screen includes a variety of funds, such as taxable money-market, tax-free money-market, and prime money-market. (A prime money fund owns floating-rate debt and commercial paper of non-Treasury assets, such as corporations.)" Note that the article and screen includes funds that incorporate overall ESG in their credit analysis (but aren't "ESG" specific). If you'd like to see Crane Data's latest table of ESG and Social MMFs, e-mail us at info@cranedata.com.)
