Another Hot New Fund Alternative

Lauren Young

I've been a longtime advocate of social investing, much to the dismay of friends who think it's best to simply make money in the market and give it away to charities. Some of the socially responsible funds I like include Domini Social Equity as well as Neuberger Berman Socially Responsible.

But you don't have to be labeled a "socially responsible" fund company to do good. Case in point: Guinness Atkinson, which is launching the no-load Guinness Atkinson Alternative Energy Fund at the end of March.

The fund is slated to invest in companies "involved in the production, distribution or storage of alternative energy, including energy conservation." The fund will invest primarily in companies that produce 50% or more of revenues from alternative energy and will be managed with an emphasis on value.

Lead manager of the fund will be my pal Tim Guinness, who is chief investment officer of Guinness Atkinson. Tim also manages the Guinness Atkinson Global Energy Fund--I'm sure some social investors would find the holdings of that portfolio appalling.

Before it's here, it's on the Bloomberg Terminal.