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Dipping Into Green Investing
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Special to CNBC.com
The Winslow Green Growth [WGGFX
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], Alger Green and Portfolio 21 funds are all good picks in this broader based group, says David Kathman, a mutual fund analyst for Morningstar, with solid track records and strong management.
“These broader funds are better for average investors who want some green exposure,” he says.
Kathman notes, however, that Winslow Green Growth can be particularly volatile, so it’s best geared “for those who can tolerate a lot of risk,” while the Alger fund family often takes an aggressive approach.
“They’ve had some really good returns and because their top holdings include companies like Apple [AAPL
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], Microsoft [MSFT
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] and First Solar [FSLR
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], the Alger Green fund is more of a core-like fund,” he says.
The Alger Green Growth fund is up nearly 32 percent through Nov. 6, with a 5-year annualized return of 5.8 percent, putting it in the top 4 percent of funds in the large-cap growth category.
Caution Ahead
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Government regulations, both domestic and international, can also impact green companies significantly, making it critical that funds have a deep research bench to stay ahead of them.
Such funds, says Justice, are best suited as a specialty holding rather than a core investment.
If you’re in it for the long-haul, he notes, green mutual funds make a nice addition to a well-diversified portfolio. Just practice moderation.
“I wouldn’t put more than 5 percent of assets” into these funds,” says Justice, noting those who own energy funds may already have adequate exposure.
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