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Meritas Financial
Inc. is bringing five social investment mutual funds to the market,
including the first mutual fund to be based on the Jantzi Social
Index of socially responsible stocks.
Meritas is a new
company formed out of a partnership of Mennonite Savings and Credit
Union in Waterloo, Ontario; the Mennonite Foundation of Canada and
US-based Mennonite Mutual Aid.
The funds include:
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Meritas Money
Market Fund, which invests in Treasury Bills and other
short-term instruments;
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Meritas
Canadian Bond Fund, which invests in Canadian fixed income
securities;
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Meritas
Jantzi Social Index Fund, which primarily invests in Canadian
stocks which comprise the Jantzi Social Index
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Meritas US
Equity Fund, which invests in US companies, and;
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Meritas
International Equity Fund, which invests in companies
primarily outside of North America.
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The prospectus has
a detailed list of social and environmental criteria forselecting
investments. The screens include:
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Respect the
dignity and value of all people (human rights, discrimination,
stereotyping, ethnic/cultural groups, oppressive political
regimes)
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Build a world
at peace and free from violence (military production, peaceful
relationships, non-violent conflict resolution)
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Internalize a
concern for justice in a global society (fair, sustainable
compensation, opportunities for disabled and disadvantaged,
honest and non-discriminatory products, individual and
community involvement, shared prosperity for all
stakeholders)
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Exhibit
responsible management practices (trustworthy business
practices, employee health and safety, rights of collective
bargaining and stakeholder communication, responsible resource
management, sound corporate governance, avoid litigation,
respectful of competitors)
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Support and
involve communities (recognize role of communities, corporate
giving, community decision-making, invest in local workforces
and environments, avoid alochol, tobacco, gaming and
pornography)
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Practice
environmental stewardship (recognize natural environment as
finite, reduce, re-use and recycle, environmental reporting,
animal welfare).
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The funds will be
active shareholders voting their shareholdings in line with their
social criteria. They will also engage companies in management
dialogue in efforts to increase corporate accountability.
Each Fund will
invest up to two per cent of their assets in community oriented
investment programs.
The funds will be
sold through investment advisors, financial planners, credit unions,
banks and discount brokers.
For more
information, visit www.meritas.ca;
e-mail info@meritas.ca;
or call (519) 624-6767.
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