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Standard Life grounds airline stocks

Standard Life has removed all exposure to airline stocks from its ethical portfolios after receiving strong feedback from investors in its annual ethical survey.

Some 30 per cent of all investors asked said they would prefer the complete exclusion of airline stocks across Standard’s £588m ethical range.

Standard Life head of SRI Julie McDowell says: “The views of investors in our ethical fund range are of paramount importance to us. We are unique in carrying out an annual survey to understand investor wishes and concerns and we seek, wherever possible, to reflect those concerns in the criteria applicable to our ethical funds.

“The Standard Life Ethical Committee, which is comprised of senior Standard Life managers and three individual investors in the ethical funds, has considered the results of our 2007 ethical investor survey. In light of the sizeable percentage of our investors wishing to avoid investment in airlines, the Ethical Committee has decided that our ethical policy should be adapted to reflect these views. I am sure that investors welcome the fact that they play an important part in helping to shape our ethical fund criteria.”

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