Socially Responsible Fund Update

We recently added an additional investment option in the LCMC retirement plan.  Many people want to invest their money according to the values that drive other decisions in their lives.  And subsequently, I’ve been asked by some participants in the plan about socially conscious investing.

There is an entire subset of the investment industry called socially responsible investing.  I became initially interested in this over 25 years ago as I was attending Gustavus Adolphus College and taking an Ethics in Business course.  I wrote my term paper on socially responsible investing – this was back when it was in its infancy.  The industry has progressed now from overall social responsibility to more specific guidelines about environmental, social, and governmental (ESG) criteria.  And now there are even further subsets of that with investment criteria aimed at specific ESG criteria and/or specific investment criteria.
To answer the request, we researched various investment options and determined there was a socially responsible fund that we should add to the investment lineup in the plan.  The Neuberger Berman Socially Responsive Fund was recommended and subsequently approved by the LCMC Investment Committee to be added to the fund.  It was officially added in September 2013.

The Neuberger Berman Socially Responsive Fund (symbol NRAAX) believes that corporate responsibility is a hallmark of quality and has the potential to produce positive investment results so it invests in companies that follow principles of good corporate citizenship. The fund focuses on companies that are responsive to environmental issues; are agents of favorable change in workplace policies; are committed to upholding universal human rights standards; and are good corporate citizens.  In addition, the Fund avoids companies with products with negative public health implications such as tobacco, alcohol, weapons, and nuclear power.

Further information can be found on the Fund Information page on your private LCMC retirement plan website or at and look up the Socially Responsive Fund.

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