Friends Provident is adding its Ecotec and Stewardship International funds to the 19 others already ...
Friends Provident is adding its Ecotec and Stewardship International funds to the 19 others already available to investors in its Investment Portfolio Bond (IPB) to take advantage of growing interest in SRI and government commitments to invest in renewable energy sources.
The £9m Ecotec fund has been going since March this year and represents a higher risk investment that depends on renewable energy technology becoming widespread over the longer term.
UK, EU and US governments are all committed to promoting such technology, but the risk to investors lies in trying to pick the companies that will make it big once the breakthrough comes, an FP spokesman says.
Stewardship International is also placed towards the higher risk end of the spectrum of funds available through the IPB, although with a track record stretching back to 1987 the £42m fund is invested in more large-cap companies selling existing technologies and services.
IPB clients can invest in a mix of up to 10 funds out of the 21 now available.
FP intends to ensure that marketing of the IPB and the new funds available hits IFAs and "appropriate selection panels", however it does not intent to pursue a particular advertising campaign.
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