Mavrix Sierra Fund reaches out to SRI community, joins Social Investment Organization

Mavrix Sierra Fund, one of 14 mutual funds managed by Toronto-based Mavrix Funds Ltd., has joined the Social Investment Organization in an effort to reach out to the SRI community.

According to Research Analyst Mark Riedl, Mavrix looks for companies exemplifying environmental, social or economic sustainability. “As for the socially responsible mandate, the universe is wide open,” said Riedl in a recent interview, posted on Mavrix’s website, www.mavrixfunds.com. “There’s lots to choose from, there’s great companies out there.”

In a previous interview, Riedl said environmental sustainability includes companies with high quality health and safety programs, eco-design in their products, or eco-efficient processes such as recyclable materials, lighter materials or less material use. He added that social sustainability emphasizes employee relations, including working conditions, benefit programs and stock options.

Mavrix Sierra Fund joined the SIO Sept. 1 as an associate member. The fund began in 1999 as the YMG Sustainable Development Fund. In November, 2001, the fund – along with other YMG funds -- was transferred to a new company, Mavrix Mutual Funds.

Riedl says the fund has some negative screens, including defence contractors and gaming companies, but the emphasis will be on positive screening on social and environmental sustainability.

One year return for the fund to Sept. 30, 2003 is 13.44 per cent.

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