Tuesday, April 07, 2009

Religion Rides to the Rescue of Wall Street . . . .

It's about a week late for April Fool's, so maybe this is actually legit.

It ought to have a dramatic effect on the current financial situation, so pay attention.

Per Seeking Alpha today:

New SRI ETFs Will Target Different Branches of Christianity

April 07, 2009

The market for socially responsible investing continues to grow for exchange-traded funds investors. Now, a group based in Oklahoma City, Okla., is proposing a set of faith-specific ETFs to launch in the near future.

FaithShares Inc., which is advised by FaithShares Advisors, is asking the Securities and Exchange Commission for approval to offer five new SRI-themed ETFs. Those would be:

* The FaithShares Baptist Values Fund

* The FaithShares Catholic Values Fund

* The FaithShares Christian Values Fund

* The FaithShares Lutheran Values Fund

* The FaithShares Methodist Values Fund


The FaithShares will be screened for social values of each faith through KLD indexes. FTSE Group, the well-known international index provider, will calculate the indexes. Various broad FTSE indexes will also be used as benchmarks against the KLD indexes.

Not having the expertise in valuing different christian FaithShares, I'll have to rely on experts such as:

pat robertson, pope bennie, ted haggard, charles stanley, et al.

That oughta handle it, eh ? ? ? ?

H/T "drf"

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