Marks & Spencer Money has announced that it will be launching an ethical fund in response to the number of consumers who say they want to be socially conscious with their money.
Gfk NOP research shows that one in five people say they consider ethical investment when looking at financial products, and the M&S Money Ethical fund, due to be launched on Monday, February 12th, will " seek to provide investors with long term growth by investing in companies that make a positive contribution to the community or environment".
The fund will avoid investing in companies involved in armaments, gambling, the fur trade,
Tobacco and pornography. The fund will also avoid firms that conduct or commission non-essential animal testing, companies that make use of child labour and groups that have poor environmental practices.
Brendan Cook, chief executive of M&S Money, commented, "Our saving and spending decisions are increasingly influenced by a desire to take personal responsibility for our impact on society and the environment which is why we are launching a new ethical investment product.
"We will be appointing two of the best investment managers in the business to work closely with us, so we can offer our customers the opportunity to invest in an ethically sound product without compromising investment performance."
Find out more about Ethical Investment