Faith-based institutions continue to be leaders in the evolution and growth of Environmental, Social and Governance (ESG) investing. During September’s Financing The Future summit in South Africa, 22 religious group organizations announced their plans to divest oil, gas and coal investments, solidifying Faith-based investors’ position as the single largest constituency exiting fossil fuels1. While many ESG investing strategies utilize these exclusionary screening techniques to avoid investments in fossil fuels or sectors such as weapons, tobacco, alcohol and pornography, a group of Catholic faith-based investors are taking their ESG investment approach further by implementing and advocating a proactive approach to investment selection.
The Catholic Investing Collaborative (CIIC) is committed to moving faith-based investing beyond exclusionary screening by seeking out investment opportunities that create measurable, positive social and environmental outcomes in service of people and the planet. Members of the CIIC have signed the Catholic Impact Investing Pledge, in “an effort to galvanize the Catholic investment community to commit to taking meaningful and accountable steps to incorporate impact investments into their portfolio alignment with Catholic Social teachings and the urgency for action around environmental and social justice issues.”
The investment team at Dana is in agreement with a dual approach to values-based investing, utilizing both exclusionary screening techniques as well as proactively allocating capital towards industries and companies that can make a positive impact. With many faith-based clients, we applaud the continued efforts of the community to use consolidated action as a powerful, united voice.
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Dana Large Cap Equity Fund top-ten holdings as of June 30, 2019: Apple, Inc. (2.24%), Microsoft Corp. (2.21%), Alphabet, Inc. Class A (2.13%), Facebook, Inc. (2.12%), Stryker Corp. (2.10%), CDW Corp. (2.09%), Thermo Fischer Scientific, Inc. (2.07%), Zebra Technologies Corp. (2.04%), Broadcom, Inc. (2.03%), Comcast Corp. (A) (2.02%).
Dana Small Cap Equity Fund top-ten holdings as of June 30, 2019: Boot Barn Holdings, Inc. (2.03%), Rudolph Technologies, Inc. (2.02%), Southwest Gas Corp. (2.01%), Outfront Media, Inc. (2.01%), EastGroup Properties, Inc. (1.99%), CoreSite Realty Corp. (1.98%), ANI Pharmaceuticals, Inc. (1.91%), Chesapeake Utilities Corp. (1.91%), Rapid7, Inc. (1.91%), Stag Industrial, Inc. (1.90%).
Dana Epiphany ESG Equity Fund top-ten holdings as of June 30, 2019: Amazon.com (3.54%), Microsoft Corp. (3.13%), Apple, Inc. (3.08%), Visa, Inc. (3.04%), American Express Co. (2.89%), Nexterra Energy, Inc. (2.87%), Intel Corp. (2.80%), Automatic Data Processing (2.58%), PepsiCo, Inc. (2.55%), Mastercard, Inc. Class A (2.47%).
The Dana Funds are distributed by Unified Financial Securities, LLC. There is no affiliation between Unified Financial Securities, LLC. and the firms referenced in this blog post.