On Monday 12th February, Marks & Spencer Money will launch an ethical fund designed to meet the needs of savers who want to invest their money in an account run on ethical principles.
Research conducted by the bank indicates more than one in five investors gives consideration to ethical investment when choosing an account and see it as a mainstream option.
The M&S Money Ethical fund, which can be sheltered within the tax-efficient ISA wrapper, will invest in companies that the bank feels make a positive contribution to the community or environment.
It will avoid investing in companies that they perceive as primarily involved in the following activities: armaments, gambling, the fur trade, tobacco and pornography.
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 product.
Companies that have a poor environmental record will also be rejected for investment purposes, as will companies that conduct or commission non-essential animal testing or those that make use of child labour.
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