Free Enterprise Action Fund Calls on Calvert Investments and KLD Research to Withdraw Sponsorship of ‘Socially Responsible’ Conference Featuring Speaker Who Advocated Violence Against Fund Managers
For more info contact: Steve Milloy, 301-258-2852, steve@feafund.com
Washington DC (PR WEB) October 10, 2005 – Action Fund Management LLC (AFM), investment adviser to the Free Enterprise Action Fund (FEAF)(www.FreeEnterpriseActionFund.com), asked Calvert Investments and KLD Research & Analytics, Inc. to withdraw their sponsorship of an upcoming “socially responsible” investor conference featuring a speaker who advocated violence against the principals of the FEAF.
The Brooklyn Bridge/TBLI Group is organizing the Triple Bottom Line Investing (TBLI) Conference in Frankfurt, Germany, November 2-4. One of the scheduled speakers is Max Keiser, the founder and CEO of KarmaBanque. In a September 28 podcast originally posted on the web site KarmaBanque.com, Keiser denounced the FEAF as an “appeaser to global warming and climate change terrorists” and said, with respect to the principals of the FEAF, “I think the kids, the children of these people, should knife them.” (1)
“We are appalled that anyone would advocate violence against us simply because we hold an opposing view,” said Steven Milloy of AFM.
In his podcast criticizing the FEAF and its pro-free enterprise positions, Keiser also made extreme statements regarding the stature of leading American businesses, including Coca-Cola, Microsoft and Monsanto. The Free Enterprise Action Fund (FEAF) is a mutual fund seeking to provide investors with financial returns while persuading companies to focus on increasing shareholder value and profits rather than appeasing outside activists. The FEAF owns less than 1 percent of the shares of Coca-Cola, Microsoft, and Monsanto.
Robert Rubenstein, the CEO of conference organizer Brooklyn Bridge/TBLI Group, refused AFM’s written request that Keiser be dropped as a panelist. “Given the TBLI Conference organizer’s refusal to drop Mr. Keiser, we are now requesting that conference sponsors Calvert Investments and KLD Research & Analytics withdraw their sponsorships of the conference,” said AFM’s Tom Borelli.
“We are calling on ‘corporate social responsibility’ advocates to take a firm stand against violent hate speech,” added Borelli.
“Given that advocates of ‘corporate social responsibility,’ ‘socially responsible investing’ and ‘sustainable development’ position themselves as advocates for ‘civil society,’ now would be a good time for them to put their words into action,” said Milloy.
The Free Enterprise Action Fund seeks long-term capital appreciation through investment and advocacy that promote the American system of free enterprise. An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Free Enterprise Action Fund can be found in the fund's prospectus. To obtain a prospectus, please call 1-800-766-3960 or visit www.FreeEnterpriseActionFund.com. Please read the prospectus carefully before investing.
Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. The Free Enterprise Action Fund is a new fund with limited investment history and there is no guarantee that it will achieve its investment objectives.
The Free Enterprise Action Fund is advised by Action Fund Management, LLC., which receives a fee for its services, and is distributed by BISYS Fund Services Limited Partnership, which is not affiliated with Action Fund Management, LLC.
References:
- The podcast was originally posted at http://karmabanqueradio.blogspot.com/2005/09/le-fric-show-29-september-2005.html , but has since been removed. A copy was made and is available as an mp3 file at http://www.junkscience.com/KARMABanque_Podcast_092805.mp3.
The Free Enterprise Action Fund seeks long-term capital appreciation through investment and advocacy that promote the American system of free enterprise.
An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the Free Enterprise Action Fund can be found in the fund's prospectus. To obtain a prospectus, please call 1-800-766-3960 or click here. Please read the prospectus carefully before investing.
Mutual fund investing involves risk, including loss of principal.
The Free Enterprise Action Fund is advised by Action Fund Management, LLC., which receives a fee for its services, and is distributed by BISYS Fund Services, LP, which is not affiliated with Action Fund Management, LLC.
