Does Somebody Up There Favor This Fund?

Although Ave Maria Catholic Values Fund is beating its benchmarks, its manager says that's due to disciplined stock-picking

Religious or "morally responsible" mutual funds are known more for leaving investors with a clean conscience than for producing heavenly returns. One exception may be the Ave Maria Catholic Values Fund (AVEMX ), which invests only in companies whose policies don't conflict with Roman Catholic Church teachings. This year, Ave Maria has risen 21.7% as of Sept. 30, outperforming the Standard & Poor's 500-stock index by 6.9 percentage points and the fund's peer group of midcap-blend portfolios by 4.3 percentage points.

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