“The funny thing about faith-based mutual funds is, well, that there’s anything called a faith-based mutual fund. For one thing, Scripture is full of exhortations against accumulating wealth. The New Testament, especially, repeatedly reminds followers of Christ that earthly wealth means nothing in heaven. “It is easier for a camel to go through the eye of a needle than a rich man to enter the Kingdom of God,” says Jesus. Also, it seems quixotic to apply a religious framework to something as material as the markets. What, after all, does God have to do with mammon? Nevertheless, faith-based funds have grown to nearly $17 billion from $500 million over the past decade, according to Morningstar, which tracks market data.”
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