Short Interests: Money manager makes a Hail Mary play

Investors who wish to make a few bucks in the market but want to make sure they stay on the good side of the Roman Catholic Church have a new mutual fund. The Ave Maria Catholic Values Fund offered by Schwartz Investment Counsel Inc., in Bloomfield Hills, Mich., looks to invest in companies whose policies are consistent with the church.

That means the fund does not invest in companies involved in abortion or pornography, says Gregg Watkins, a senior vice president with Schwartz. It also stays away from companies that offer “domestic partner benefits” to same-sex couples. The church believes such a policy is inconsistent with the definition of marriage. A six-member Catholic advisory board that includes Domino’s Pizza founder Tom Monaghan and is headed by former baseball commissioner Bowie Kuhn will establish the guidelines and criteria to assure investments meet the fund’s religious criteria.

“Someone told me there were 60 million Catholics in the U.S.” says Mr. Watkins. “There are fewer than half a dozen similar funds. It’s a niche that seems to not have been filled. We will differentiate ourselves by delivering good returns.”

Bipartisan clout

The Carlyle Group is known for using such top Republicans as former President Bush and his secretary of state, James A. Baker III, to clinch private-equity deals. Its CEO, Frank Carlucci, was defense secretary under President Reagan.

Now the firm has opened its doors to a couple of heavy hitters from the recent Democratic administration.

Last week Arthur Levitt, who headed the Securities and Exchange Commission from 1993 until March, said he was joining the Washington firm as a senior adviser. And William E. Kennard, chairman of the Federal Communications Commission from November 1997 until this past February, also said that he was joining the firm. He will be a managing director of its telecommunications and media practice.

At the end of last year, the Carlyle Group had more than $12 billion in assets under management.

And the winner is:

With wholesome California looks that could supposedly tame a bear market, TechTV consumer reporter Stacee Barcelata is the winner of Playboy.com’s sexiest financial newswoman poll.

Out of 45,000 votes, Ms. Barcelata, dubbed the “brunette cutey” by Playboy.com, grabbed 30%. CNBC’s popular “Money Honey,” Maria Bartiromo, was runner-up with 26%, and Bloomberg TV’s Prue Lewarne was third with 12%.

Apparently it was a grass-roots effort by TechTV that put Ms. Barcelata over the top. When Playboy.com asked readers last month to choose from eight financial anchors or reporters in its “Bear Market Babes” poll, TechTV, a San Francisco-based cable channel covering technology, mentioned her nomination on the air – whereas other nominees and their media outlets ignored it or derided Playboy .com for its sexist poll.

“I’m extremely flattered,” said Ms. Barcelata, a reporter on the show “Tech Live.” Asked if she’d consider posing for Playboy – of course, part of the prize – Ms. Barcelata said, “I might entertain the idea, but I probably wouldn’t pose.”