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Social Guidelines


At St. Michaels Asset Management LLC. we take a practical approach to socially responsible investment. We seek to make returns for our clients by investing in businesses that are leading positive change to benefit humanity and the earth's ecosystems. We embrace the long-held concern of Friends that investments be in businesses which serve a beneficial purpose and exclude those which raise concerns about their products, management, employment and personnel practices, environmental practices, respect for human rights, community relations or conservation of natural resources.
1. There will be no investment in weapons contractors or sub-contractor. Off-the-shelf civilian products sold to the Department of Defense are not considered weapons components. Companies will also be excluded that operate gambling casinos or obtain their business from the production of hard alcohol, tobacco, firearms or other products which do not serve constructive purposes as may be determined from time-to-time. The trend and nature of the products may have a bearing on our decision.
2. International companies face complex issues arising from the diverse cultures and political - economic settings in which they operate. These include: human rights, just wages and safe working conditions, child labor, forced labor, freedom of association, and the environment. We favor companies that have adopted codes of conduct to guide their policies, programs and operations and have demonstrated a commitment to following those codes of conduct.
3. After reviewing these concerns, companies should be chosen that are ranked above average in their industry on social responsibility issues.
4. With respect to government bonds, there is little connection between a government’s war policies and its capacity to borrow money. The government bond market has, in fact, become an important part of the national economic structure. Investing in governmental bonds is permissible provided they do not have specific ties to the prosecution of, or preparation for, war. Treasury Notes and Bills of short-term duration (less than 2 years) are not considered investments, but serve as a temporary repository for funds until a decision on investment or other application of the money can be made.
We specifically look to avoid businesses that profit from tobacco, gambling, alcoholic beverages, and munitions. Likewise, companies whose products and services are produced with the intent to enhance the cause of war.
We do invest in emerging economies, for portfolio results, as well, as to help to reduce the cause for war. 
We will not invest capital with businesses whose products and practices are inconsistent with Quaker principles. We recognize that it is not easy to have absolute assurance of specific company characteristics and activities, but when such products and practices are found to be inconsistent with these principles, we will divest such holdings.
For more information please contact us at -