Friends Prov diversifies in Stewardship

Friends Provident has given its Stewardship International unit trust a more internationally diversified portfolio. Until recently the ethically invested fund had no exposure to Japan and only 3% in Asia from holding Australian resource companies. Over the past few months the fund has reduced its exposure to the UK from 44% in January to 26%. The monies have been slowly invested into Asian and Japanese equities. The restructured portfolio now has a 10% weighting in Japan and a 7% weighting in Asia. Its exposure to the US market has increased from 19% to 25%, while its position in Europe...