Moreley Fund Management's offshore division, Privilege Portfolio International, has added the euro socially responsible fund to its Sicav range.
This euro denominated offshore fund aims to produce long term capital growth by investing in companies that show a commitment to helping the environment, through practices such as effective waste management,
New economy companies that are involved in areas like technology and old economy companies in areas such as manufacturing are covered by the fund. The diversity of the stocks included in the portfolio gives a balanced approach to investment risk.
The companies that the fund invests in are researched in-house. Companies that do not meet the fund's environmental, social and financial criteria are not selected by the fund manager.
There is increasing interest in socially responsible investments at the moment and this can be seen in the way pension funds must now declare their stance on ethical investments. FTSE International has also recognised the trend for ethical investing as it has launched a series of ethical indices.
The euro socially responsible fund could be suitable for investors with ethical concerns who are looking for a themed investment. However, the ethical criteria of the fund's selection process limits the choice of stocks, especially if some of them fail to perform and alternative stocks are needed.
According to Standard & Poor's, the Privilege Portfolio global themes fund is ranked 28 out of 537 funds based on £1,000 invested on a bid to bid basis with gross income reinvested over three years to April 6, 2001.