International Index Fund


Objective

The Green Century MSCI International Index Fund seeks to achieve long-term total return that matches the performance of an index comprised of the stocks of foreign companies selected based on environmental, social and governance (ESG) criteria. The Fund seeks to achieve its objective by investing in stocks included in the MSCI World ex USA SRI ex Fossil Fuels Index, a custom index calculated by MSCI, Inc. The MSCI World ex USA SRI ex Fossil Fuels Index is comprised of the common stocks of the approximately 239 companies in the MSCI World ex USA SRI Index, minus the stocks of the companies that explore for, process, refine or distribute coal, oil or gas or produce or transmit electricity derived from fossil fuels or transmit natural gas.

Investment Strategy

The Fund seeks to invest in companies that have outstanding ESG ratings and excludes companies whose products or services have negative social or environmental impacts, including fossil fuel companies and factory farms. MSCI is a leading global index provider with which Green Century has partnered for this Fund and the Green Century Equity Fund.

Index stocks are weighted based upon float-adjusted market capitalization. The composition of the Index is reviewed annually and rebalanced quarterly. Companies are evaluated to determine if they have maintained their ESG performance and whether they remain part of the applicable MSCI universe.

Environmental Factors

Green Century provides mutual funds for individuals and institutions who want to invest in a way that reflects their values and concern for their families, the environment and the future. Green Century also believes that investing in an environmentally responsible way is a smart way to invest. For example, companies that minimize their negative environmental impact and follow governance standards may avoid costly lawsuits, regulatory violations and brand damage — and instead could enjoy competitive advantages including cost and liability reductions, profitability enhancements, and access to new and expanding growth markets.

The Fund invests in 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 Fund does not invest in oil, coal or fracking companies nor does it hold companies with significant involvement in genetically modified organisms (GMOs), military or civilian firearms, alcohol, tobacco, gambling, or nuclear power.

Risk

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 value of stocks held in the Fund will fluctuate in response to factors that may affect a single company, industry, market cap, country or region and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. The Fund’s environmental criteria limit the investments available to the Fund compared to mutual funds that do not use environmental criteria.

 

Fund Facts

Inception Date: September 30, 2016
Morningstar Category: Foreign Large Blend 
Individual Investor Share Class Ticker Symbol: GCINX
Institutional Share Class Ticker Symbol: GCIFX
Individual Investor Share Class CUSIP Number: 392768404
Institutional Share Class CUSIP Number: 392768503

Minimum Investment:
Individual Investor Share Class Regular Account: $2,500/Fund
Individual Investor Share Class IRA Account: $1,000/Fund
Institutional Share Class: $250,000/Fund

Distributions:
Income Dividends
Frequency: Semi-Annually
Individual Investor Share Class – June 2017: $0.0859/share
Individual Investor Share Class – December 2016: $0.0164/share
Institutional Share Class – June 2017: $0.1003/share
Institutional Share Class – December 2016: $0.0195/share
Capital Gains

Frequency: Annually (generally in December)
Individual Investor Share Class – December 2016: $0.00/share (short term); $0.00/share (long term)

Institutional Share Class – December 2016: $0.00/share (short term); $0.00/share (long term)

Sales Charge/Load:
No Load Fund
Front End Load: None
Back End Load: None

Fees/Expenses:
Individual Investor Share Class Total Expense Ratio:
1.28%
Institutional Share Class Total Expense Ratio:
0.98%
12b-1 Fee: None
Redemption Fee: 2.00% (on shares sold within 60 days of purchase)


Sector Allocation

As of 6/30/17:


Largest 10 Holdings

As of 6/30/17: (25.7% of net assets)

Roche Holding A.G. 4.47%
SAP S.E. 3.00%
Allianz SE 2.73%
Unilever NV 2.49%
The Bank of Nova Scotia 2.25%
Westpac Banking Corporation 2.24%
Vodafone Group PLC 2.23%
Novo Nordisk A/S, Class B 2.23%
Canadian National Railway Company 2.08%
Unilever PLC 1.98%

You can view the complete holdings of the International Index Fund here.

You can also view the list of countries the International Index Fund invests in here.

Asset Allocation

As of 6/30/17:
Total Net Assets: $20.91 million
Individual Investor Net Asset Value per Share: $10.96
Institutional Investor Net Asset Value per Share: $10.96

Common Stocks 98.53%
Cash & Equivalents 1.47%
Inception Date: 9/30/2016 Cumulative Returns as of 6/30/17
Latest Quarter Year to Date One Year Three Years Five Years Ten Years Since Inception
Green Century MSCI International Index Fund – Individual Investor Share Class (GCINX) 5.70% 14.11% n/a n/a n/a n/a 10.65%
Green Century MSCI International Index Fund – Institutional Share Class (GCIFX) 5.84% 14.26% n/a n/a n/a n/a 10.83%
MSCI World ex USA Index [1] 5.63% 12.82% n/a n/a n/a n/a 12.41%

Performance is calculated after fees.

The Individual Investor Share Class total expense ratio of the Fund is 1.28% and the Institutional Share Class total expense ratio of the Fund is 0.98% 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 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.

The Green Century International Index Fund seeks to track the MSCI World ex USA SRI ex Fossil Fuels Index. For more information about the MSCI World ex USA SRI ex Fossil Fuels Index click here

Daily Fund Price as of 7/25/2017

Fund N.A.V. $ Change
Green Century MSCI International Index Fund – Individual Investor Share Class $11.21  +$0.01
Green Century MSCI International Index Fund – Institutional Share Class $11.21  +$0.01

Questions?  1-800-934-7336 |  info@greencentury.com

International Index Fund Investment Advisor: Green Century Capital Management

International Index Fund Investment Sub-advisor and Portfolio Manager: Northern Trust Investments

International Index Fund Index Provider: MSCI ESG Research

Green Century provides the investment advisory services to the International Index 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 International Index Fund providing day-to-day portfolio management of the Fund. 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.


Santiccioli Steven (002)

Steven Santiccioli
Vice President and Senior Portfolio Manager

Steven joined Northern Trust in 2003 and is now a Vice President for the company.

Prior to joining Northern Trust in 2003, Mr. Santiccioli was a portfolio manager with Deutsche Bank. Prior to his portfolio manager position at Deutsche, he served as the head of the accounting group for international index portfolios.

Mr. Santiccioli received a B.A. from Bucknell University and an MBA from Fordham University.


Brent D. Reeder
Sr. Vice President
Head of US Index Equity Portfolio Management

Brent Reeder is a Senior Vice President and Head of US Equity Index Portfolio Management 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.

Questions?  1-800-93-GREEN |  info@greencentury.com