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Friends to offer &#39best of sector&#39 etical funds

Friends Provident is planning “best of sector” ethical funds in a bid to keep up with the widening appeal of socially responsible investment.


The company says the move, due later this year, responds to the broadening


appeal of ethical investments which includes an increasingly wider mix of


consumers.


The new funds will invest in companies in any sector which demonstrate the


most socially responsible stance among its peers.


Friends says this stops investors missing out on any high-returning


sectors which may be traditionally barred for investment through products


with more traditional “dark green” stock selection with stricter ethical


criteria.


The company says investors range from the very ethically minded, who put


ethical concerns before profit, through to those who would like to include


an ethical element but remain more concerned with returns.


Friends pioneered the ethical sector with the launch of its strict


criteria “dark green” stewardship unit and income trusts in 1984.


The new funds address consumer concerns on traditional ethical investment


products not providing as high returns as traditional non-ethical funds.


External communications manager Jim Murdoch says: “Investors can engage in


the benefits of socially responsible investment by taking ethical option


into account without altering investment philosophy or stock-selec tion


criteria.”

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