Digital wealth manager Nutmeg has launched a new 10-strong suit of socially responsible portfolios.
The firm says the range will be “fully managed” and “globally diversified” as it also launches a scorecard for all its investments to rate them on environmental, social and governance factors.
Nutmeg claims the ratings deal with analytics firm MSCI makes it the first UK wealth manager to give an ESG score for its entire investment range.
Nutmeg chief investment officer Shaun Port says: “Whether it’s ethical, green, sustainable, ESG, or socially responsible, it isn’t always clear what these labels mean for investments, or investors. For too long many investments have hidden behind these terms without defining the purpose they are serving.
“There’s very little information for people who want to know if their investments are in line with their values; be they reducing carbon emissions, gender equality on boards or a business’ management of their data.”
Existing Nutmeg customers will be able to switch to the risk-rated, socially responsible investing portfolios if they wish.
The Nutmeg management fee for managed portfolios is 0.75 per cent up to £100k, 0.35 per cent beyond. The average fund cost is 0.33 per cent and average market spread cost is 0.08 per cent, according to the firm’s website.