Clean Yield Asset Management

Our founders, Doug Fleer and Rian Fried, first met at a neighborhood gathering in 1983. The two found that they had strong common interests in social justice, the environment, and financial markets. Within a few months, they formed Fried & Fleer Investments and began publishing a monthly stock-market newsletter that they called The Clean Yield. That publication featured a list of socially screened companies, as well as a model portfolio. With its unique content, The Clean Yield quickly developed a nationwide following among financial professionals as well as individual investors just learning about the emerging field of socially responsible investing. The Clean Yield's model portfolio, in particular, drew attention, because it became one of the top-performing model portfolios in the U.S. Before long, subscribers began calling to ask for market trading advice. Seeing the need, Doug and Rian joined up with a third partner, Ben Lovell, and made their advice systematic by adding an asset management service. Clean Yield Asset Management incorporated as a registered investment advisory firm in 1986, and Ben opened a branch office in Portsmouth, N.H. For a while, the Portsmouth Clean Yield office was co-located with the social mutual fund, Pax World Fund, and our staff performed many of Pax World's administrative functions through contractual arrangement. When Ben switched jobs in 1996, we took the opportunity to consolidate his office and our office in Stannard, Vermont, in a nearby town, Greensboro. Another staff addition came in 2006 with the addition of Dorigen Hofmann, a portfolio manager. Dorigen maintained a small office near her home in Seattle; however, in the spring of 2009, she opened a satellite office in Washington, DC. Portfolio manager Eric Becker joined us in October 2009 as our chief investment officer; Valerie Martin became Clean Yield's office operations associate at our Norwich, Vermont office; and Elizabeth Glenshaw came on board as managing director at the beginning of 2010. Eric was seasoned for sixteen years as a portfolio manager at Trillium Asset Management in Boston, and Elizabeth most recently directed a development team at the Calvert Foundation. Rick Hausman started with us part time in 1990 as our research director while he was still in his third term in the Vermont House. His presence enabled us to expand our social research, shareholder advocacy, and community investing, work assumed by Shelley Alpern upon Rick's retirement in 2012. Shelley joined us after many years in social research and advocacy with Trillium Asset Management. Clean Yield became a B Corp in April 2011. In 2013, we welcomed Steve Lehman in the role of equity analyst and Karin Chamberlain as Impact and Community Investment Analyst. Steve brings many years of experience managing individual portfolios and a mutual fund. Karin's background as a manager of sustainability indices at KLD Research & Analytics was preceded by service with the US Peace Corps. In July 2013, we were deeply saddened by the loss of Rian Fried. We are committed to keeping his legacy of innovation alive and keeping Clean Yield true to the ideals he cherished.