The Alger Green Fund (Stock Quote: SPEGX), formerly called the Spectra Green Fund.
Investment type: The portfolio invests at least 80% of it assets in stocks with any market capitalization, and carries a front-end load fee of 5.25%. The fund received three out of four stars from Morningstar.
What they do that's green: According to the fund’s managers, they choose to invest in growth companies that conduct business in a “socially responsible manner.” Top holdings include Microsoft (Stock Quote: MSFT), Wal-mart (Stock Quote: WMT), Apple (Stock Quote: AAPL) and Google (Stock Quote: GOOG). Sound weird? Even giant companies are joining the green bandwagon, experts say. “These companies have pressure on them, as well, because have more products,” says Brengle. “The IBMs and Googles of the world are looking into ways to increase the efficiency of their products and services.”
Numbers at a glance: The fund is down 40% from a year ago. According to a Morningstar report, the Alger Green Fund is “well-diversified across sectors, making it an option for green investors seeking a domestically focused core fund.”
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Green Stocks
If you want more skin in the game, there are a number of beaten-down green stocks covering all types of niche categories under green investing. For any of these stock investments it’s important not to buy into any hype, experts say. Think long-term. After all, remember ethanol?
“The bottom line is, how cheaply do these stocks deliver meaningful energy?” says John Villarreal, who’s consulted several green tech companies over the years in Silicon Valley, Calif. “Investors are looking closer at fundamentals.”
Here are a couple of stocks within niche areas of green: wind and solar.
Broadwind Energy (Stock Quote: BWEN)
Investment type: Stock
What they do that’s green: They supply wind energy services and products, such as gears for wind turbines, to the energy sector within North America.
Numbers at a glance: The stock is about 75% off its 52-week high, trading around $7.50 a share. Wind made up more than 40% of all new electricity generation installments in the U.S. last year.
Suntech Power (Stock Quote: STP)
Investment type: Stock
What they do that’s green: They design and manufacture solar products for homes, commercial buildings and power plants.
Numbers at a glance: Trading at $16.44, more than 60% off its 52-week high. TheStreet.com Ratings' model rates Suntech Power as a “hold.”
