Ecclesiastical prays on the ethical investor

A new series of socially responsible investment funds is being launched by the Ecclesiastical Insurance Group.

Ecclesiastical, a niche insurer of churches, charities and community buildings, is introducing positive and negative ethical screening to its European Growth and International Growth Funds.

The funds will be renamed the Amity European Fund and Amity International Fund respectively.

Ecclesiastical said it would aim to invest in companies that would “benefit from the need to build a cleaner and safer world”.

Ecclesiastical will also launch a new ethically screened fund, the Amity Sterling Bond Fund, and retain the Amity UK Fund, which was already ethically screened.

The funds will be administered by a subsidiary, Ecclesiastical Investment Management Limited, formerly known as Allchurches Investment Management Services.

The funds’ primary market is church and charity groups, but they are open to any ethical investor.

Ecclesiastical will also continue to provide two non-screened funds: the Ecclesiastical Higher Income Fund and the Ecclesiastical UK Equity Growth Fund.

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