M&G
Socially Responsible Investment in the UK
Fund Management
M&G has developed a Socially Responsible Investment policy
which takes account of the environmental, employment and ethical
performance of companies in which it invests.
Policies followed by M&G, an active voting shareholder,
are identified in the booklet "Issues arising from share
ownership" which includes the following description of
M&G's approach to Socially Responsible Investment:
'Growth and wealth creation remain the cornerstone of
prosperity. We believe that well managed, and therefore growing,
investee businesses will as a matter of course take account
of wider social and environmental issues in taking their businesses
forward. We find it helpful if companies publish the guidelines
they adopt in dealing with these issues. We look for a well
reasoned and practical approach and recognise that this can
vary according to each company's circumstances. If companies
choose not to publish guidelines in this area they should
give their reasons.'
Link
to M&G.
Our Ethical Products
Prudential M&G Light Green Fund (for institutional pension
fund clients)
The Prudential M&G Light Green Fund has a socially responsible
objective which seeks to balance ethical concerns with investment
efficiency. Working with EIRIS Services Ltd the fund aims
to exclude companies that fall into certain categories.
Fund size as at 30 June 2001 £3.2 million
Link to a PDF of the
Light
Green Fund
Scottish Amicable Ethical Trust (a
unit trust)
The Scottish Amicable Ethical Trust aims to maximise long
term returns by investing in companies which satisfy a prescribed
set of ethical criteria. These criteria include prohibitions
on investments in:
Company groups which derive more than 33% of their
reported annual turnover from fossil fuel industries
Company groups which derive any turnover from the production
of tobacco or tobacco products
Company groups which have been involved in the sale
or production of nuclear weapons systems.
The Trust favours companies which promote equality of opportunity
and take positive action to protect the environment.
Fund size as at 30 June 2001 £11.4 million
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