M&S offers ethical savings plan
Thursday, 16 Oct 2008 12:11
Marks & Spencer Money has created a new investment scheme for ethically-minded investors.
The M&S Ethical Fund invests in companies which have a social, environmental or ethical criteria or which make a positive contribution to communities.
The fund will not invest in companies which are involved in gambling, the fur trade, tobacco, armaments or pornography or those which use animal testing or child labour.
M&S has recruited two expert fund managers from Jupiter Asset Management and Sinopia Asset Management to run investors' money.
The fund is sheltered in a tax-free ISA wrapper and, according to M&S Money, has the potential to create long-term growth of investors' capital.
Research by GfK NOP revealed 22 per cent of investors considered an ethical investment when choosing a fund.
Brendan Cook, chief executive of M&S Money, said: "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 product."