Calvert Global Water Fund Class I
CFWIX
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- Calvert Global Water Fund Class I (CFWIX) is an open-end mutual fund that seeks to track the performance of the Calvert Global Water Research Index by investing primarily in the common stocks of companies significantly involved in water-related business activities addressing global water challenges, including water utilities; water infrastructure providers; water technology providers; and water solution providers such as water use leaders and water innovators. The fund offers exposure to sectors like industrials, utilities, and basic materials, with diversified holdings across regions including the United States (approximately 51%), Eurozone, United Kingdom, Japan, and Latin America, targeting institutional investors with a minimum initial investment of $1 million and a net expense ratio of 0.99%. Launched on January 31, 2014, and domiciled in the United States, the fund is managed by Calvert Research and Management, a subsidiary of Morgan Stanley Investment Management headquartered at 1825 Connecticut Avenue NW, Suite 400, Washington, DC. The fund maintains a global focus, with roughly equal allocations to U.S. and non-U.S. stocks, and top holdings including Ecolab Inc., Xylem Inc., Spirax Group PLC, Zurn Elkay Water Solutions Corp., and American Water Works Co. Inc., representing key players in water treatment, infrastructure, and utilities. It emphasizes responsible investing aligned with the Calvert Principles, prioritizing companies that promote water access, quality, efficiency, and stewardship amid declining supplies and rising demand. In recent developments, the fund transitioned to portfolio managers Gordon Wotherspoon and Jennifer Mihara effective July 1, 2024, enhancing its management team for the water-focused strategy. It also updated its secondary benchmark to the Calvert Global Water Research Index to better align with its replication approach, as reflected in 2025 factsheets. Calvert Research and Management, the fund's adviser, continues to expand under Morgan Stanley Investment Management, including contributions to diversity initiatives tied to related ETFs in 2024, though no direct acquisitions or partnerships specific to CFWIX were reported in the last 1-2 years.