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Norwich Union gets socially responsible

Norwich Union is introducing sustainable future, a socially responsible open-ended investment company (Oeic).

The Oeic is made up of six Norwich Union sub funds, corporate bond, UK growth, absolute growth, global growth, managed and European growth. Norwich Union is hoping that the fund is attractive to experienced investors who are looking for long term growth by investing in companies that are socially responsible. Investors will be able to invest in any proportion of the six sub funds, from just one to all six.

Norwich Union is defining socially responsible companies as ones that are involved in emerging industries, such as renewable energy, water management, advanced communications and education. These companies must also possess good long-term growth prospects, and have a good record of staff relations.

This is the first socially responsible product that Norwich Union has introduced, although the nine strong fund team is extremely experienced at running these types of products. Manager Clare Brook joined Norwich Union in January 2001 having managed the Henderson NPI global care fund, and the rest of the team were recruited by her.

According to Standard & Poor’s the Norwich Union UK ethical fund is ranked 40 out of 236 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over three years to January 22, 2001.

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