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.
About The Author
Lisa Miller is a contributing editor at New York magazine. She is the former religion columnist for the Washington Post, former senior editor of Newsweek magazine, and author of “Heaven: Our Enduring Fascination with the Afterlife.” She is a multi-year winner of the New York Newswomen’s Club prize for feature writing and has been a finalist for the National Magazine Award.