Portfolio 21: A World of Green

This global fund invests nearly two-thirds of assets in overseas companies it deems environmentally friendly.

Green goes global in Portfolio 21, a fund that hunts around the world for companies that design ecologically sound products, use renewable energy and develop efficient production methods. Headquartered in Portland, Portfolio 21 (symbol PORTX) is one of a small but growing breed of funds that buy companies poised to prosper in an era of climate change, conservation and government incentives for renewable fuels.

Nearly two-thirds of the $220-million fund is invested overseas, mostly in Europe. Portfolio 21's design didn't include originally include investing in foreign companies. But there weren't enough U.S. firms that filled the bill for the fund to be properly diversified, says Carsten Henningsen, founder of the fund's parent firm, Progressive Investment Management.

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Staff Writer, Kiplinger's Personal Finance