Are you prepared for Wrath of the Lich King? WoW Insider has you covered!

AOL Money & Finance

Al Gore's fund closes after attracting $5 billion

Former Vice President Al Gore is doing quite nicely staying out of the current political fray.

Generation Investment Management Ltd., which he co-founded with ex-Goldman Sachs Group (NYSE: GS) banker David Blood in 2004, attracted nearly $5 billion to its main Global Equity Fund and is probably restricting inflows into the fund next month, according to Bloomberg News.

The fund has some pretty high ideals according to its Web site: "We focus on the economic, environmental, social, and governance risks and opportunities that can materially affect a company's ability to sustain profitability and deliver returns. Our research plays an important role in forming our views on the quality of the business, the quality of management, and valuation."

So how does that translate in the real world? Al Gore isn't providing performance details, according to the Bloomberg story. It's kind of weird for Gore to be so mum considering that its biggest holding Novo Nordisk (NYSE: NVO) is up more than 60% over the past year in U.S. trading.

Other big holdings aren't doing nearly as well. Nestle SA (VX: NESN) is up 4% and Johnson Controls Inc. (NYSE: JCI) has only jumped a little more than 2%.

The Bloomberg story quotes the Nobel Laureate as saying, "More money is allocated by markets around the world in one hour than by all the governments on the planet in a full year." How true.

But the inconvenient truth for many of Gore's admirers is he's doing really well by not being in politics, making it unlikely that he will ever run for elected office again.

--Freelance writer Jonathan Berr edits the blog Ketchup and Eggs.

Related Posts

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA+29.8811,632.38
NASDAQ+21.922,325.88
S&P 500+5.191,282.19

Last updated: July 24, 2008: 08:54 AM

BloggingStocks Exclusives

Hot Stocks

BloggingStocks Featured Video

TheFlyOnTheWall.com Headlines

WalletPop Headlines

    AOL Business News

    Latest from BloggingBuyouts

    Sponsored Links

    My Portfolios

    Track your stocks here!

    Find out why more people track their portfolios on AOL Money & Finance then anywhere else.