Friends Ivory & Sime is to integrate its ethical fund management team into its UK equity team in a b...
Friends Ivory & Sime is to integrate its ethical fund management team into its UK equity team in a bid to increase the resource base available for its ethical investments.
In a separate move, Ted Scott is to take over as lead fund manager of the group's ethical funds, branded Stewardship.
He will replace Richard Lowman, who is to retire from the group. Scott has been a member of the Stewardship fund management team for eight years and part of the group's UK equity team for 16 years.
Stock selection for the Stewardship funds will now be divided into picking the top 100 companies by market cap and analysing mid and small cap stocks. The Stewardship funds will now have access to 12 large cap analysts and four in the mid and small cap team.
The group said that the ethical approach of the funds, which involves positive and negative screening of stocks, will be unchanged.
Howard Carter, chief executive of Friends Ivory & Sime, said: "Our objective is to provide customers with an attractive return on their investments while maintaining a rigorous ethical approach at all times. These improvements will help to ensure that Stewardship maintains its market-leading position within the retail ethical market."
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