Investors should not ignore environmental, social and governance (ESG) risks in their portfolios, said David Sand, portfolio manager for the CCM Alternative Income Fund. Sand said his multi-strategy mutual fund is one of the few which screens for ESG problems like insular management, environmental lawsuits and a lack of board diversity, all of which can hurt returns over the long run. Sand added that his fund is finding yield by spotting mispriced assets in the mortgage and muni markets. Finally, Sand said the financial crisis has individual investors worried about both stock and bond bubbles, so they are opting for liquid alternative funds for safety instead.