Investment Account Lets Individual Clients Screen for Companies' Eco-Performance

Investment Account Lets Individual Clients Screen for Companies' Eco-Performance

A California investment company has added a socially responsible screening process to its array of separately managed accounts.

Investors in the Kelmoore Investment Company's newly created Redwood Accounts have the option to screen out companies and industries involved with environmental pollution; nuclear power; weapons productions; tobacco, alcohol, gambling products; and human rights violations. The company is using Piper Jaffray's Philanthropic and Social Investment Consulting to assist them in socially responsible screening.

"There's a huge surge of interest in socially responsible investing," said Matthew Kelmon, senior executive vice president of trading and head portfolio manager at Kelmoore. "The ethical issues raised in the financial service industry have caused individuals to take a broader look at what impact their investing is making beyond just their account statement."

The screening process aims to help investors seek out companies that align with their own values, with commitment to areas such as pollution prevention, gender and ethnic diversity, and safe and healthy products: "We're catering to the client who wants to keep their social and investing philosophies aligned," said Tamara Wendoll, senior executive vice president of marketing and operations. "The Redwood Account offers our clients the ability to invest with both their head and their heart."