Quilter’s WealthSelect managed portfolio service has divested from an emerging markets impact equity fund following an investigation into a potential breach of Quilter Investors’ exclusion framework.
The managed portfolio's sustainable range is no longer invested in the UBAM Positive Impact Emerging Market Equity fund, after third party data provider identified tobacco production, in the form of e-cigarette production, via a joint venture of a holding in the fund. A spokesperson told PA's sister title Investment Week that while the firm was informed that revenue for that holding had ceased, Quilter's investigation found "there was not enough evidence to override our own stated policy for the sustainable portfolios". "As a multi-manager we feel it is of utmost importance that we in...
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