Pension Builders & Consultants (PB&C), Cleveland, has launched a recycling and waste management unit investment trust with expectations to capitalize on growing interest in environmentally friendly practices.

“By investing in the Pension Builders Global Recycling & Waste Management Portfolio, investors may not only be contributing to a cleaner environment, but may participate in the growth and earnings of companies dedicated to environmentally friendly practices.” said Darrin Farrow, president of PB&C, in a press release. ”The portfolio is poised to benefit from the increased need to manage waste and recycled material in both developed and emerging markets and based on legislation mandating greater environmental responsibility and a demand for these services.”

According to the press release, the portfolio, which started accepting deposits May 7, began by identifying a universe of approximately 500 companies that PB&C says have a significant focus in categories such as waste management systems, refuse systems, hazardous waste treatment and remediation services, which comprise the waste management sector. Once the universe was selected, PB&C incorporated a ranking system to identify 23 companies that are diversified across the many waste management categories. The ranking system is primarily based on, but not limited to, market capitalization, liquidity, dividend payment and profitability. The portfolio’s stocks were equally weighted on the trust's initial date of deposit.