Fund managers

Investing in arms manufacturers and military contractors is a risky business. Companies involved in military weapon sales can face a range of economic risks, inluding reputation risk, regulatory risks, and political risks. These risks are amplified when companies are involved with nuclear weapons and controversial weapons like cluster munitions, anti-personnel landmines, incendiary weapons, and depleted uranium. That's why weapon free investing has been a common component of sustainable investing for decades.

But despite these risks, fund managers, including the largest firms responsible for funds found across thousands of corporate 401(k) plans, have significant investments in weapons, including nuclear weapons and controversial weapons.

As You Sow

Largest fund managers are heavily invested in arms manufacturers, nuclear weapons, and controversial weapons

Are your savings invested with one of these financial giants? All but one of the top 25 U.S. fund managers* earn a D grade or worse, with significant investments in arms manufacturers and major military contractors, including companies involved with nuclear weapons and controversial weapons like cluster munitions, anti-personnel landmines, incendiary weapons, and depleted uranium.

Filters

Nuclear weapons

Controversial weapons

American Funds/Capital Group

Columbia Threadneedle

4.16%

JPMorgan

3.78%

Franklin Templeton Investments

Hartford Mutual Funds

TIAA Investments/Nuveen

2.83%

Invesco

2.73%

Dimensional Fund Advisors

2.61%

American Century Investments

1.74%

* Top 25 asset managers by USD invested in equity funds. Universe covers U.S. open-end mutual funds and exchange-traded funds with at least 50% of assets directly invested in equities, excluding fixed income funds, target date fund-of-funds, and other alternative investment vehicles like collective trusts, separately managed accounts, or funds domiciled outside the U.S.

Sustainable and socially responsible fund managers often have less weapons exposure

Fund managers that focus on sustainable investing have less exposure to military weapons on average. The top 25 sustainable fund managers^† earn mostly C grades or better, with many having no investments in nuclear weapons, and almost all avoiding investments in controversial weapons.

Filters

Nuclear weapons

Controversial weapons

Kennedy Capital Management

7.25%

Calvert Research and Management

Boston Trust Walden Funds

Impax Asset Management

Trillium Mutual Funds

Vert Asset Management

Redwheel

Aspiration Funds

ReyndersMcVeigh Funds

Nia Impact Capital

KBI

^† Top 25 sustainable fund managers by USD invested. "Sustainable fund manager" defined as fund managers with at least 50% of assets invested in funds with a sustainable investing mandate, per Morningstar. Universe covers U.S. open-end mutual funds and exchange-traded funds excluding other alternative investment vehicles like collective trusts, separately managed accounts, or funds domiciled outside the U.S.

Over 100 fund managers rated

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