A Mutual Fund That's Kind to Animals

The 12-year-old (IGIAX Quote)Integrity Growth and Income Fund (IGIAX) recently began marketing itself as a socially responsible fund in an effort to capitalize on the growing popularity of ''green'' investments.

The fund's name hasn't changed -- the "Integrity" moniker alludes to its sponsor, Integrity Mutual Funds(IMFD.OB Quote) of Minot , N.D.

Neither has the fund's strategy. Manager Robert Loest says he has always run it as a socially responsible fund; it's just that not many people knew. And with just $46 million in assets, it made sense to change the prospectus to better reflect his investment strategy -- and incidentally, attract more investors.

After years as a kind of investment backwater, socially responsible funds are finally having their day in the sun. Partly it's in response to a greater cultural awareness of issues such as global warming. Even those who don't believe global warning exists can't deny the need for alternative energy sources as the country's dependence on foreign oil continues to deplete their disposable income. ...