The Green Century Equity Fund seeks to achieve long-term total return that matches the performance of an index comprised of the stocks of companies selected based on environmental, social and governance criteria. The Fund seeks to achieve its objective by investing in the stocks which make up the MSCI KLD 400 Social ex Fossil Fuels Index (the KLD400 ex Fossil Fuels Index or the Index), a custom index calculated by MSCI, Inc. The KLD400 Ex Fossil Fuels Index is comprised of the common stocks of the approximately 400 companies in the MSCI KLD400 Social Index (the KLD400 Index), minus the stocks of the companies that explore for, process, refine or distribute coal, oil or gas that are included in the KLD400 Index. The KLD400 Index, formerly named the Domini 400 Social Index, is the longest-running socially responsible index.
The KLD400 ex Fossil Fuels Index stocks are weighted based upon float-adjusted market capitalization. The composition of the Index is reviewed quarterly, and companies are evaluated to determine if they have maintained their environmental, social, and governance (ESG) performance and whether they remain part of the MSCI universe. At each quarter, the KLD400 Index is restored to 400 companies using those eligible for inclusion and the KLD400 ex Fossil Fuels Index is reconstituted to eliminate the fossil fuel companies included in the KLD 400 Index.
Green Century believes that companies that minimize their negative environmental impact and follow governance standards could enjoy competitive advantages including cost and liability reductions, quality improvements, profitability enhancements, and access to new and expanding growth markets.
The Fund invests in the stocks which make up the KLD400 ex Fossil Fuels Index. The Index is comprised of the stocks of companies selected based on a thorough review of ESG factors and includes those companies believed to have the best overall sustainability records. The Index does not hold companies with significant involvement in alcohol, tobacco, gambling, military or civilian firearms, nuclear power, or genetically modified organisms (GMOs). The Equity Fund does not invest in fossil fuel companies.
As with all equity funds, the share price will fluctuate and may fall if the market as a whole declines or the value of the companies in which the Fund invests falls. The Fund’s environmental criteria limit the investments available to the Fund compared to mutual funds that do not use environmental criteria.
Inception Date: June 3, 1991
Morningstar Category: Large Growth
Ticker Symbol: GCEQX
CUSIP Number: 392768305
Open a Regular Account: $2,500
Open an IRA Account: $1,000
June 2014: $0.0701/share
December 2014: $0.0853/share
Frequency: Annually (generally in December)
December 2014: $0.0066/share (short term); $0.3457/share (long term)
No Load Fund
Front End Load: None
Back End Load: None
Total Expense Ratio:1.25%
12b-1 Fee: None
Redemption Fee: 2.00% (on shares sold within 60 days of purchase)
As of 3/31/15:
|Automobiles & Components||0.51%||Insurance||2.91%|
|Cash & Equivalents||1.04%||Pharmaceuticals & Biotechnology||10.93%|
|Commercial & Professional Services||0.81%||Real Estate||4.84%|
|Consumer Durables & Apparel||2.78%||Renewables & Efficiency||0.82%|
|Food & Beverage||5.25%||Software & Services||13.78%|
|Food & Staples Retailing||0.30%||Technology Hardware & Equipment||5.77%|
|Healthcare Equipment & Services||3.61%||Telecommunication Services||3.23%|
|Household & Personal Products||4.96%||Utilities||1.59%|
Largest 10 Holdings
As of 3/31/15: (22.41% of net assets)
|Procter & Gamble Company||2.96%|
|Verizon Communications, Inc.||2.70%|
|The Walt Disney Company||2.26%|
|Merck & Company, Inc.||2.19%|
|Google, Inc., Class C||2.12%|
|Google, Inc., Class A||2.11%|
|International Business Machines Corporation||2.02%|
|Gilead Sciences, Inc.||1.98%|
You can also view the complete holdings of the Equity Fund here.
As of 3/31/15:
Green Century Equity Fund
Average Annual Total Returns as of 3/31/2015
|1 Year||3 Year||5 Year||10 Year|
|Green Century Equity Fund||12.17%||15.47%||12.77%||7.06%|
|S&P 500® Index (1)||12.73%||16.11%||14.47%||8.01%|
The total expense ratio of the Equity Fund is 1.25% 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 06/30/2015
|Green Century Equity Fund||$31.92||+$0.07|
Equity Fund Investment Advisor: Green Century Capital Management
Equity Fund Investment Sub-advisor and Portfolio Manager: Northern Trust Investments
Equity Fund Index Provider: MSCI ESG Research
Green Century provides the investment advisory services to the Equity Fund, including overseeing the daily portfolio management of the Fund by Northern Trust. Green Century also coordinates the operations and the compliance functions for the Fund, as well as the shareholder advocacy efforts.
Northern Trust Investments is the sub-advisor to the Equity Fund providing day-to-day portfolio management of the Fund since 2010. The firm has managed socially responsible portfolios for over twenty-five years and is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology.
MSCI is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools. The company’s flagship product offerings are: the MSCI indices which include over 148,000 daily indices covering more than 70 countries; Barra portfolio risk and performance analytics covering global equity and fixed income markets; RiskMetrics market and credit risk analytics; ISS governance research and outsourced proxy voting and reporting services; FEA valuation models and risk management software for the energy and commodities markets; and CFRA forensic accounting risk research, legal/regulatory risk assessment, and due-diligence. MSCI is headquartered in New York, with research and commercial offices around the world.
Sr. Vice President
Head of Domestic Equity Index Portfolio Management Team
Brent Reeder is a Senior Vice President and Head of the Domestic Equity Index portfolio management team at The Northern Trust Company in Chicago. Prior to that Brent was a Portfolio Manager in the Quantitative Management Group of Northern Trust Global Investments and was responsible for the management of index portfolios. Brent has a broad range of expertise in both large capitalization and small capitalization index mandates. Before his investment management experience, Brent spent five years in trust operations as a team leader of the Foundations and Endowments team.He received a B.A. degree in Economics from DePauw University and an M.B.A. degree in Finance from DePaul University. Brent is an Associated Person with the National Futures Association.