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Letter to shareholders

Semi-Annual Report,
December 31, 2009

Global Economic Review

Our Portfolio Manager's monthly analysis of the global economy

Featured Companies

The latest sustainability research on Portfolio 21 companies

Interview: Denis Hayes

Interview with Denis Hayes, co-founder of Earth Day

Interview with Denis Hayes

40 years after co-founding Earth Day in 1970, Denis Hayes sits down with Portfolio 21 co-founder Carsten Henningsen to discuss the history of Earth Day, social change, Herman Daly, and Avatar.
Read the interview

Letter to shareholders, Semi-Annual Report

Dear Friends,
The 40th anniversary of Earth Day is a reminder of how far the world has come since 1970. From Kyoto to Copenhagen, global leaders now recognize the ecological crisis at some level. However, the gap between rhetoric and action is still too wide and requires building a bridge before the storms get worse . . . Read more

Featured Companies

Learn more about our company evaluation criteria and how Portfolio 21 companies are implementing sustainable business practices in their operations. Companies are continually added to the fund and new profiles will be featured quarterly.
See featured companies

Global Economic Review

Equity markets were mixed in February as investors remained wary about the strength of the economic recovery and mounting debt in Europe.
Read full report

The information provided herein represents the opinion of the Portfolio Manager of the Fund and is not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

Portfolio 21 may invest in foreign securities, which are subject to the risks of currency fluctuations, political and economic instability and differences in accounting methods. Investing in foreign securities is riskier than investing in domestic securities. The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. Please refer to the prospectus for more complete information including risks, fees and expenses.

Holdings are subject to change and are not recommendations to buy or sell any security. Indices mentioned are unmanaged and are commonly used to measure equity performance. One cannot invest directly in an index.