Since the economic downturn of last year, faith-based investing has shown new growth, reports the Long Island Catholic newspaper (March 3).
The recession has “prompted investors to question their financial advisors and the huge mutual fund names they trusted for so long. As result, many are gravitating towards the faith-based investing universe that is made up of about 100 mutual funds with a value of about $31 billion,” writes Kelly Cinelli. She adds that “many are seeking advice from their religious advisors on matters of both spirituality and money,” and that the growth of faith-based groups during the recession has been “fantastic.”
The Epiphany Faith & Values 100 Fund (a Catholic mutual fund) saw a 77 percent increase in assets during the recession. Another fund group, MMA Praxis Mutual Funds (coming from an Anabaptist background) launched a new investing option, the Genesis Portfolios.
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