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Scottish Equitable&#39s new socially responsible income fund

Scottish Equitable&#39s new UK socially responsible income fund is the UK&#39s first ethical fund that invests exclusively in bonds.

Although classed as an ethical fund, Scottish Equitable prefers to call it a &#39socially responsible&#39 fund claiming it has a broader investment remit than the average ethical fund, which tends to have a large number of exclusions.

Like an ethical fund, it will not invest in companies that are involved in arms or tobacco manufacture or animal cruelty. However it does invest in Sterling-denominated investment grade corporate bonds of companies that meet certain criteria. These include environmental, humanitarian and corporate issues, community involvement and animal welfare.

This is an innovative idea that fills a gap in the market and could well appeal to clients looking to link a steady income with a more moral approach to investing. It is worth pointing out that this fund would exclude companies such as British Aerospace, which in 1999 made a pretax profit of £790 million, due to its links with the arms industry.

According to Standard & Poor&#39s the Scottish Equitable A fund is ranked 150 out of 223 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to July 17, 2000.


Standard Life Bank introduces a second tranche of funds for futureperfect mortgage

Standard Life Bank has introduced a second tranche of funds for its unique futureperfect mortgage.Futureperfect is the only 25-year capped rate mortgage in Britain, as these products are more common in the USA. A repayment only mortgage, interest is calculated daily and the mortgage can be taken from property to property.However, futureperfect must be paid […]

Mortgage regulation system to run until 200

The system for statutory regulation of mortgages, which controversially excludes mortgage advice, looks set to run until at least 2003.The FSA regulation ofmortgages will not come into effect until autumn next year. After two years, it will be reviewed by the Government under plans announced as part of the Treasury response to the Cruickshank review […]

Portman orchestrates new deal

Portman Building Society is backing the Bournemouth Symphony Orchestra in a new three-year sponsorship deal for worth £200,000.Chief executive Robert Sharpe says the society&#39s first sponsorship deal with the orchestra, which began in 1998, has delivered on the many objectives set at that time.Sharpe says: “This has resulted in the Portman brand image being promoted […]

Second offer of Standard mortgage

Standard Life is offering a second tranche of its 25 year capped-rate Futureperfect mortgage which IFAs can sell before it is introduced to the public.Standard Life Bank says the move is in response to the overwhelming demand from IFAs for the first tranche.Futureperfect&#39s rate is capped at 6.49 per cent for the life of mortgage. […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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