The Green Century Balanced Fund seeks capital growth and income from a diversified portfolio of stocks and bonds, which meet Green Century’s standards for environmental responsibility.
The Balanced Fund is an actively managed fund comprised of stocks and bonds. The Fund typically holds 60%- 75% in multi-cap stocks and 25%- 40% in investment grade quality bonds. Our risk-adjusted performance benefits from combining multiple sources of investment insight within a risk management framework.
The Fund seeks to invest in well managed companies that are leaders and innovators, strive to maximize their environmental advantages and minimize their environmental risks.
To select the stocks for investment, the portfolio managers at the sub-advisor Trillium Asset Management use rigorous financial analysis that employs a “growth at a reasonable price” discipline. The portfolio managers use similar financial and environmental criteria in selecting bonds in an effort to modulate the Fund’s overall level of investment risk and exposure to business, economic, and interest rate trends. The portfolio managers also seek to invest in green bonds that support energy efficiency and emissions reductions programs through domestic and international corporations and agencies.
Green Century believes that companies that are environmentally responsible could enjoy competitive advantages including cost and liability reductions, quality improvements, profitability enhancements, and access to new and expanding growth markets. Such companies may also gain from strong relationships with their stakeholders.
The Balanced Fund also gives retail investors access to an institutional quality investment process from Trillium Asset Management, a leader in socially responsible investing since 1982.
Inception Date: March 18, 1992
Morningstar Category: Moderate Allocation
Ticker Symbol: GCBLX
Open a Regular Account: $2,500
Open an IRA Account: $1,000
December 2013: $0.0307/share
June 2014: $0.0607/share
Frequency: Annually (generally December)
Latest: None in calendar year 2013
No Load Fund
Front End Load: None
Back End Load: None
Total Expense Ratio: 1.48%
12b-1 Fee: None
Redemption Fee: 2.00% (only on shares sold within 60 days of purchase)
Environmental Screens and Factors
The Balanced Fund keeps your dollars out of fossil fuel companies and instead seeks to invest in sustainable companies and environmental innovators. The Fund also avoids factory farming, genetically modified organisms (GMOs), nuclear energy and tobacco. The Fund invests in companies based on its high environmental standards and includes investments in the Renewable and Energy Efficiency sector, such as companies that manufacture products that help other industries and corporations minimize energy use.
The value of stocks held in the Balanced Fund will fluctuate in response to factors that may affect a single issuer, industry, or sector of the economy or may affect the market as a whole. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.
As of 9/30/14:
|Automobiles & Components||0.58%||Insurance||3.28%|
|Cash & Equivalents||2.16%||Pharmaceuticals & Biotechnology||7.21%|
|Commercial & Professional Services||0.44%||Real Estate||0.78%|
|Consumer Durables & Apparel||1.99%||Renewables & Efficiency||2.55%|
|Food & Beverage||2.80%||Software & Services||8.94%|
|Food & Staples Retailing||0.99%||Technology Hardware||8.64%|
|Green Bonds, Renewable Energy Bonds & Energy Efficiency Bonds||7.96%||Telecommunication Services||2.92%|
|Healthcare Equipment & Services||5.36%||Transportation||1.81%|
|Healthy Living||1.70%||U.S. Government Agencies||5.96%|
|Household & Personal Products||0.51%|
Largest 10 Holdings
As of 9/30/14: (17.33% of net assets)
|Shire PLC American Depositary Receipt||2.13%|
|Stifel Financial Corporation||1.69%|
|Cisco Systems, Inc.||1.67%|
|Johnson Controls, Inc.||1.50%|
|UnitedHealth Group, Inc.||1.45%|
|Umpqua Holdings Corporation||1.40%|
|Charles Schwab Corporation||1.39%|
You can also view the complete holdings of the Balanced Fund here.
As of 9/30/14:
Total Net Assets: $126.0 million
Net Asset Value per Share: $24.13
Cash & Equivalents 2.16%
Common Stocks 68.79%
Green Century Balanced Fund
Average Annual Total Returns as of 9/30/2014
|1 Year||3 Year||5 Year||10 Year|
|Green Century Balanced Fund||11.99%||15.06%||10.47%||6.00%|
|Custom Balanced Index ||11.93%||14.36%||10.99%||6.91%|
The total expense ratio of the Balanced Fund is 1.48% as of the most recent prospectus.
The performance data quoted represents past performance, and past performance is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call 1-800-93-GREEN. Performance is calculated after fees and includes the reinvestment of income dividends and capital gain distributions, if any. The performance shown does not reflect the deduction of taxes that a shareholder might pay on any Fund distributions or the redemption of Fund shares. A redemption fee of 2.00% may be imposed on redemptions or exchanges of shares you have owned for 60 days or less. Please see the prospectus for more information.
Daily Fund Price as of 12/19/2014
|Green Century Balanced Fund||$25.16||+$0.02|
Balanced Fund Investment Advisor: Green Century Capital Management
Balanced Fund Investment Sub-advisor/Portfolio Manager: Trillium Asset Management
Green Century provides the investment advisory services to the Balanced Fund, including overseeing the daily portfolio management of the Fund by Trillium Asset Management. Green Century also coordinates the operations and the compliance functions for the Fund, as well as the shareholder advocacy efforts.
Trillium Asset Management is the sub-advisor to the Balanced Fund providing day-to-day portfolio management of the Fund since 2005. Trillium has been a leader in responsible and sustainable investment for over 30 years. A team of three portfolio managers at Trillium has responsibility for the day-to-day management of the Balanced Fund.
Matthew Patsky, CFA joined Trillium in October 2009 as CEO, and has over 25 years of experience in investment research and investment management.
Matt began his career at Lehman Brothers in 1984 as a technology analyst. In 1989, while covering emerging growth companies for Lehman, he began to incorporate environmental, social and governance factors into his research, becoming the first sell side analyst in the United States to publish on the topic of socially responsible investing in 1994. As Director of Equity Research for Adams, Harkness & Hill, he built that firm’s powerful research capabilities in socially and environmentally responsible areas such as renewable energy, resource optimization, and organic and natural products. Matt was most recently at Winslow Management Company in Boston, where he served as director of research, chairman of the investment committee and portfolio manager for the Green Solutions Strategy and the Winslow Green Solutions Fund.
Matt is currently on the Boards of Environmental League of Massachusetts, Shared Interest, and Pro Mujer. He recently served on the Boards of US SIF and Root Capital. Matt is a member of the Social Venture Network (SVN). He is a Chartered Financial Analyst charterholder and a member of the CFA Institute. Matt holds a Bachelor of Science in Economics from Rensselaer Polytechnic Institute.
Cheryl Smith, CFA and Ph.D. in Economics, has been with Trillium for over 20 years and has over 25 years of experience managing socially responsible institutional and individual portfolios. She began her investment management career at Trillium in 1987. In 1992 she joined United States Trust Company in Boston (now known as Walden Asset Management) as Vice President and portfolio manager, before rejoining Trillium in the fall of 1997. Cheryl is currently a Board member of Oikocredit USA, and on the Steering Committee for the Institute for Responsible Investment. She is immediate past chair of US SIF and current member of its Policy Committee, and she recently served on the Board of Episcopal Divinity School. Cheryl is a Chartered Financial Analyst charterholder and a member of the CFA Institute. She is a member of the American Economic Association. Cheryl holds a B.S.F.S. degree from Georgetown University School of Foreign Service, and earned M.A., M. Phil., and Ph.D. degrees in Economics from Yale University.
Stephanie Leighton, CFA, has been with Trillium since 1990 and has over 25 years of investment management experience. Prior to joining Trillium she was an Investment Officer at Sun Life of Canada and an analyst at Pioneer Investments. She serves on the Indigenous Peoples’ Working Group of US SIF and has served on the Unitarian Universalist Association’s Committee on Socially Responsible Investing. Stephanie holds a B.A. from Bard College and an M.B.A. from Northeastern University. She is a past president of the New England Chapter of the Social Investment Forum. She is a member of the Boston Security Analysts Society and the CFA Institute. Stephanie is a Chartered Financial Analyst charterholder.