Calvert, one of the largest mutual fund companies in the Washington D.C. area, added the Calvert Variable Series Social Equity Portfolio and the Calvert Variable Series Income Portfolio to its line-up of insurance trust portfolios. Although the portfolios are now effective, Calvert will not accept new investors until April 30. The firm now offers a total of seven insurance trust portfolios.
“With over 35% sales growth of our products sold through insurance companies, we wanted to offer insurance trust portfolios that are virtual clones of our two most popular funds,” said Craig Cloyed, President of Calvert Distributors, Inc.
Calvert Variable Series Social Equity Portfolio seeks growth of capital through investment in stocks that meet Calvert’s social criteria. The portfolio manager is Daniel Boone, III of Atlanta Capital Management. Mr. Boone currently manages $390 million in the Calvert Social Investment Equity Portfolio.
Calvert Variable Series Income Portfolio seeks to maximize long-term income through investment in bonds and other income-producing securities. This portfolio does not employ social screening. The portfolio manager is Greg Habeeb of Calvert Asset Management Company. Mr. Habeeb currently manages approximately $1.9 billion in taxable fixed income assets for Calvert including the Calvert Income Fund and the Calvert Social Investment Fund Bond Portfolio.