Stellar performer

It has become an investment truism that ethical managers tend to underperform in bear markets, when small caps are sold off and risk aversion rises. In that case, the sell-off after the Lehman brothers collapse should have spelt bad news for Charlie Thomas, manager of the Jupiter Ecology fund. But, although it has been a tricky period, the fund has retained its top-quartile position over five years. In part, Thomas attributes this to the way the universe for ethical funds has changed over the past decade. He says: "Ten years ago, there were 250 investable companies. Now there are well o...