Chester, United Kingdom (PressExposure) October 15, 2008 -- M&S Money has launched a new ethical fund, designed specifically for customers who want to invest their money with the same principles they apply to other areas of their life. Recent research indicates more than one in five (22%) investors now consider ethical investment when choosing a fund and see it as a mainstream option*.
The M&S Ethical Fund, which can be sheltered within the tax-efficient** ISA wrapper, will seek to provide investors with long term capital growth by investing in predominantly UK companies that meet the social, environmental and ethical criteria defined in the investment policy. The aim is to invest in companies that make a positive contribution to the community or environment. It will avoid investing in companies that have a poor environmental record or are primarily involved in*** the following activities; armaments, gambling, the fur trade, tobacco, and pornography.
The fund will also avoid investing in companies that conduct or commission animal testing for cosmetic or toiletry purposes or make use of child labour.
M&S Money have chosen two expert fund managers to manage the Fund, namely Jupiter Asset Management Limited and Sinopia Asset Management (UK) Limited, which is a specialist fund manager within the HSBC Group.
Brendan Cook, chief executive of M&S Money, commented, "Our saving and spending decisions are increasingly influenced by a desire to take personal responsibility for our impact on society and the environment which is why we are launching a new ethical investment productâ.
Notes to Editors: * Research conducted by GfK NOP during October 2006. **The tax benefits provided by an ISA are subject to government legislation and may change in the future. *** A company that derives over 10% of its turnover from any one of these activities will not be invested in.
M&S Money PR Contact: Liz Neild Marks & Spencer Money Kings Meadow Chester CH99 9FB 01244 686 068 www6.marksandspencer.com