Jack and Hal developed the Rating in 1990 while writing Investing
from the Heart (Crown), to give a simple graphic representation
based on a qualitative evaluation of each SRI fund's screening
process. They looked at the screens stated in the fund's prospectus
and verified with the fund managers how they actually applied the
screens, either informally or via written policy. Mutual funds were
scored and then awarded a ♥ to ♥♥♥♥♥ rating, with ♥
being a fund with minimum screening and ♥♥♥♥♥ given for a
fund that was comprehensively screened on many social issues.
Nearly a decade later, Jack and Hal wrote Investing with Your
Values (Bloomberg Press, 1999); during that span the SRI mutual
fund industry had grown from 12 funds in 1990 to 55 mutual funds that
had defined social criteria in their prospectus, plus over 100 others
that qualified due to their selection of particular stocks and bonds.
As a result, NI refined the Rating system and added new credit to
funds that participate in Community Investing and Shareholder
Activism.
|
|
|
The Heart Rating 
