Nuclear power could be inc- luded in ethical funds as the debate on energy is reopened, says Aberdeen head of soc-ially responsible investment Andrew Preston.Preston’s ethical world fund screens stocks against 15 criteria, including inv- olvement in animal test- ing, gambling, pornography, tobacco and negative lab- our issues. Preston says that there have been objections to nuclear power production in the past on the grounds of health and safety management, especially when plants have been decommissi- oned, but the field is being debated again and the fund could change its screen- ing processes in the future. In the energy sector, the fund looks closely at comp-any management and does not currently invest in Brazilian oil firm Petrobras bec-ause of what the fund manager describes as a poor record in deaths and serious injuries among its workforce and health and safety brea-ches since 2002. But the fund does invest in Scottish Power because it believes that the company has strong environmental policies and is taking action on community and social involvement. Preston says: “The issue with nuclear power is the health and safety process during shutdown but it is really a question of sound management. The debate is evolving at the moment and people are looking at nuc- lear again.” “There is always a potential for changing our screening processes and if we feel that there is a need to change the policy, then we may write to shareholders. “There are no plans yet but I do sense that there is more focus on this subject than there has been for quite some time.”
Under normal circumstances, it is only a very plucky journalist – or a completely mad one – who takes public issue with something his editor has written about only a week earlier. Happily, Money Marketing is, as we all know, a bastion of tolerance and freedom of expression.
Britannic Asset Management’s Argonaut European alpha fund has taken 100m in under six months. The Oeic, managed by Barry Norris and Oliver Russ, was launched in May 2005 and has been supported by a number of multi-managers including New Star’s Mark Harris.The fund is a high-conviction portfolio targeting a high return. 1000 invested at inception […]
The Pensions Policy Institute says business leaders are wrong to suggest that the Government’s agreement with unions over public sector pay will have to be funded by higher taxes. The body, which is an independent charitable think-tank which gives non-party pol- itical comment in the field of pensions, has issued a briefing note contradicting the […]
Life insurers are accusing the FSA of washing its hands of the Treasury select committee’s recommendation for an industrywide rating system for investment funds. In its latest meeting with the Financial Services Forum, the FSA said the dangers of implementing such a system were too high but it gave invited the industry to come up […]
Jelf Employee Benefits has given its initial thoughts on the chancellor’s 2014 Autumn Statement. The company is seeking to isolate the sections of the speech (and the supporting document) that are relevant to the employee benefits debate. The first such area is pensions related.
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