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Portfolio > Mutual Funds

Calvert Launches Global Water Fund

By James J. Green

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Calvert has launched the latest in its series of Calvert Solution Strategies portfolios, the Calvert Global Water Fund (CFWAX), which the SRI mutual fund company said will invest in utility, infrastructure, and technology companies involved in managing water resources around the world.

Calvert senior VP Reggie Stanley noted that “mutual funds and other investment vehicles are an important way to bring additional capital to the water sector,” and that so far there is about $13 billion invested worldwide in water-related mutual funds and exchange-traded funds.

The Solution Strategies portfolios, Calvert said, selectively invest in “companies that produce products and services designed to solve some of the most pressing environmental and social challenges.” One of those portfolios is Calvert’s Global Alternative Energy Fund (CGAEX), which was launched in mid-2007 and had attracted $173 million in net assets as of September 30, 2008.

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