Domini Launches Load-Share Clone of Domini Social Equity FundNew Share Class Targets Commission-Based Brokers
New York, NY – Domini Social Investments LLC, a leading manager of mutual funds geared toward socially responsible investors, has launched a load product that clones its flagship Domini Social Equity Fund.
“The Domini Social Equity Fund has a 14-year track record and is based on the benchmark index for socially conscious investors,” said Steven Lydenberg, Domini’s Chief Investment Officer.
The Domini Social Equity Portfolio Class A is a clone of the Domini Social Equity Fund created for use by commission-based brokers.
“By introducing load shares, we hope to reach out to a whole new realm of investors who prefer to make their investment decisions with professional assistance,” said Amy Domini, founder and CEO of Domini Social Investments.
Marketing of the new Class A shares will be headed up by Kenneth R. Nostro, Domini’s Director of Broker-Dealer Distribution. Before joining Domini, Mr. Nostro was vice president at Credit Suisse Asset Management, LLC.
“Until now there has been no Domini product that meets the needs of commission-based brokers,” said Mr. Nostro. “Our new Class A shares can easily be as popular among commission-based brokers as the Domini Social Equity Fund is among fee-based advisors and do-it-yourselfers.” Morningstar calls the Domini Social Equity Fund “a fine core holding for socially conscious investors.”*
The Domini Social Equity Portfolio Class A will charge a tiered front-end load that starts at 4.75%, to compensate brokers for the guidance they offer to clients. No-load shares of the Domini Social Equity Fund will remain available for fee-based advisors and investors who buy shares directly from Domini.
About Domini Social Investments
Domini Social Investments manages more than $1.8 billion in assets for individual and institutional mutual fund investors seeking to create positive change in society by integrating social and environmental criteria into their investment decisions. Its flagship fund, the Domini Social Equity Fund (NASDQ: DSEFX), is the first and largest index fund to use social, environmental, and corporate governance standards. The Fund seeks to include companies with positive records in community involvement, the environment, diversity, and employee relations, and excludes companies deriving significant revenues from alcohol, tobacco, gambling, nuclear power, and weapons contracting.
Additional information on Domini Social Investments is available on the firm’s website, www.domini.com.
*Source: Morningstar: “Morningstar’s Take,” Analyst Report dated February 16, 2005.
Each investor should consider the Domini Funds’ investment objectives, risks, charges, and expenses carefully before investing. Obtain a copy of each Fund’s current prospectus for more complete information on these and other topics by calling 1-800-762-6814 or at www.domini.com. Please read the prospectus carefully before investing or sending money.