The concept of “blue” investing — buying shares of companies that support the Democratic party — isn’t working out so well for mutual-fund investors. The Wall Street Journal reports today that Blue Investment Management has folded its small-cap fund and is changing the name of its large-cap fund. Furthermore, Morningstar says the large-cap fund is down 10.6 percent so far this year, which is 5.6 percentage points worse than the S&P 500. Last year, the fund gained 2.9 percent, trailing the S&P by 2.6 percentage points and trailing its large-cap peer group by 10.5 percentage points.

The Journal also reports that about 92 percent of the fund’s money comes from a trust that seems to have a connection to the fund’s management company. Apparently very few people have bought into the idea of politically motivated investing. Perhaps my warning did a little bit of good.