Beware of the ‘Easy Selling Gift’ warns Head of Portfolio Management Paul Warner.
Back in 1994, when we were first asked to run discretionary ethical portfolios, we had just 21 funds from which to choose.
That portfolio was called the Green Portfolio. In those days, if you asked a question at a fund seminar or lunch that related to ethical, environmental, social, or governance issues (ESG), other participants would look at you as if you were stuck in the age of the hippies.
A decade on and the number of funds available had risen to 41. Throughout that period the funds were predominantly ethical funds, screening out companies using negative criteria, the main ones being gambling, tobacco, pornography, alcohol, arms and animal testing.
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