New SRI fund 'to suit charities in all sectors'

Newton Investment Management offers unit trust

Newton Investment Management has launched what it says is the first unit trust that offers socially responsible investments appropriate for charities in all sectors.

The Socially Responsible Investment Fund for Charities will exclude organisations involved in manufacturing products such as tobacco, alcohol and weapons, and will include only organisations with good records in areas such as governance, the environment and human rights.

Ruth Murphy, director of charity business development at Newton, said the fund would be governed by a socially responsible policy covering most of the common concerns expressed by charities.

"There have been other charity-only SRI or ethical funds, but they have usually been for only one branch of the charity sector, such as religious or medical organisations," she said.

"We already run similar funds for individual charities. But some investors prefer a unit trust because it helps them hold a diversified portfolio, or it is simpler to administer."

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