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A $20 Billion Fund Puts Its Religious Stamp on Corporate America [Yahoo! Finance Canada]
Last walmart inc. earnings: 2/18 06:00 am
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Most Read from Bloomberg A financial adviser switched Lake's portfolio over to a handful of faith-friendly funds, one of which was run by GuideStone Funds, a 106-year-old investment firm in Texas that oversees some $24 billion in assets. The company caters to Southern Baptist retirees and, increasingly, newly active faith-based investors such as Lake and his wife. GuideStone is part of a nascent coalition of conservative Christian investors that are starting to flex their muscles and use their shareholder clout to counter progressive corporate policies such as funding Pride parades or covering employees' travel costs for abortions. They're also zeroing in on banks for allegedly closing customer accounts on political and religious grounds. By some measures, there's now half a trillion dollars in investments spread across conservative faith-based private funds and state pension funds that can be brought to bear to influence company behavior, said Will Lofland, who oversees shareh
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