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Green fund grows sales by 59%

Skandia Investment Man-agement saw a 59 per cent increase in sales of its multi-manager ethical fund last year compared with 2006.

The company says this is a good indicator that people are embracing ethical investments alongside increased awareness of green issues.

The Skandia ethical fund has a 72 per cent weighting in a segregated ethical mandate with JP Morgan Asset Management, with the remainder invested in four ethical retail funds from Norwich Union, F&C, Aegon and Impax.

An independent comp-any, Ethical Screening, produces a list of suitable stocks each month for Skandia and JP Morgan Asset Management while also reviewing the retail funds to ensure they meet Skandia’s ethical criteria.

Spokesman Alex Jones says: “The feeling here is that as interest and awareness in ethical, socially responsible and environment issues increases, that interest will spill into every part of peoples’ lives, including their financial arrangements. We expect that investors will talk increas-ingly to their advisers about ethical investing as a part or whole of their portfolio and it is important for providers to have investment options which are suitable for them.”

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