Assets of socially responsible funds grew five times faster than those of other funds over the past three decades, according to a report released last week by Pax World Funds. The funds focus on different issues, screening out companies with poor records in areas like the environment, diversity, and health. Pax World said the assets in the funds reached $103 billion by mid-2001, up from $150 million in 1971. Pax World President Thomas Grant said, “We have busted the underperformance myth that is associated with many socially responsible mutual funds.”

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