BALTIMORE Allied Investment Advisors Inc., an affiliate of $18.4 billion-asset Allfirst Bank, will launch its first socially responsible-style mutual funds on Tuesday.
The four funds the Ark Intermediate Fixed Income Portfolio, the Ark Capital Growth Portfolio, the Ark Small-Cap Equity Portfolio, and the Ark Blue Chip Equity Portfolio will not invest in tobacco, alcohol, gambling, nuclear power, weapons, or contraceptives companies.
The 25 current Ark Funds have $6.8 billion of assets under management.
Allied Investment Advisors is a subsidiary of Allfirst Financial Inc., the banks holding company. The ultimate parent is Allied Irish Banks PLC, Irelands largest bank.