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
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
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