NEW YORK ( TheStreet) -- Religious groups have long designed mutual funds. Besides seeking to offer competitive returns, the portfolio managers shun certain kinds of offending stocks. Protestant funds avoid alcohol and gambling companies, while Catholic managers shy away from businesses that facilitate abortion. According to Morningstar, the faith-based funds have $30 billion in assets.Because religious managers face limitations, you might expect these funds would deliver uninspiring returns. In fact, a number of the faith-based funds have recorded sizzling results.
Top-Returning Funds That Follow Religious Guidelines
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