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Launch of US Community Investing Index Strategy
by Lisa Hagerman, December 14, 2009
State Street Global Advisors announced in December the launch of its US Community Investing Index Strategy that seeks to match the return and characteristics of the US Community Investing Index. Created in 2005 by the F.B. Heron Foundation in collaboration with Innovest Strategic Value Advisors (now Risk Metrics), the Index is comprised of approximately 330 large and mid-cap companies across sectors that show proactive engagement with economically underserved populations in rural and urban communities. The methodology evaluates a universe of companies across three pillars of community performance: strategic alignment, workforce development & wealth creation, and community engagement & corporate philanthropy. The Index has performed comparably to the S&P 500 since inception (November 2005) through September 2009, reflecting that community engagement is not only responsible management but good business. The US Community Investing Index (Download PDF) is a trademark of the F.B. Heron Foundation and has been licensed for use by State Street Global Advisors
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