If you think socially responsible investing is a sham, there’s a new exchange-traded fund you should check out.
Think of MCKG as an option for your global equity exposure, which might conceivably account for about 20 to 40 per cent of a total portfolio. North American companies account for 35 per cent of the portfolio, Western Europe for 39 per cent and the Asia-Pacific the rest. The management expense ratio comes in a bit above 0.5 per cent, which is reasonable for a fund of this type.
What the skeptics don’t get about socially responsible investing is that it’s not laser-focused on generating the best returns. Rather, it’s a way to support companies that emphasize sustainability and mitigate the risks of doing business with little or no regard for ESG factors. In doing so, returns will follow.
MCKG has some strong performance numbers in back-testing. But as a wise investing person once noted, what new fund doesn’t come to market with strong back-tested results? In this case, the underlying Corporate Knights Global 100 Index produced a 12.8 per cent average annual gain for the 10 years to Dec. 31, while the benchmark MSCI All Country World Index made 11.4 per cent. The Corporate Knights index lost 9.5 per cent last year, while the MSCI ACWI lost 12.4 per cent. Take roughly 0.
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