“When we launched our Vice Fund, one SRI [socially responsible investing] group said they would pray for us,” says Dan Ahrens, co-manager of Mutuals.com’s Vice Fund.
The Vice Fund, founded a year ago, invests exclusively in gaming and casinos, defence and aerospace, alcohol, and tobacco stocks, precisely those shunned by SRIs and other ethical funds.
The fund is up 12.7%, outperforming the Dow Jones by a modest 1.1%. Although it has underperformed the S&P500, up 12.94%, Ahrens does not believe this undermines his strategy.
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