Standard Life abrdn Ethical Corporate Bond Life (ASI)
SRI Style:
Ethical Style
SDR Labelling:
-
Product:
Life
Fund Region:
UK
Fund Asset Type:
Fixed Interest
Launch Date:
11/03/2013
Last Amended:
Dialshifter (
):
Fund Size:
£1.40m
(as at: 31/12/2023)
ISIN:
GB00B84GN119, GB00B8HQZY51
Sustainable, Responsible
&/or ESG Overview:
This Pension product is linked to the "abrdn Ethical Corporate Bond" fund. The following information refers to the primary fund.
Awaiting update from fund manager - fund last updated October 2022
We recognise that the world faces significant environmental and social challenges. We run a number of Ethical Funds that seek to invest in companies that are supporting the solutions to these challenges and uphold the highest standards of corporate responsibility. The Ethical Corporate Bond Fund aims to provide a level of income, before charges, above that available on UK Government bonds by investing predominantly in investment grade bonds. The fund is actively managed by our investment teams who may invest in a wide range of bonds (e.g. corporate bonds including sub investment grade bonds, overseas bonds, index-linked bonds, floating rate notes (FRNs) and asset backed securities (ABSs) and/or money market instruments) in order to take advantage of opportunities they have identified and which meet our strict ethical criteria. These criteria are agreed with the Ethical Funds Advisory Group and may be amended from time to time if considered appropriate. The fund manager will exclude companies which fail to meet the ethical criteria whilst seeking to include companies whose business activities are regarded as making a positive contribution to society.
Primary fund last amended:
Information directly from fund manager.
Fund Filters
Environmental - General
Funds that have policies which relate to environmental issues. These will typically set out the fund's stance on issues such as pollution, climate change, resource management, biodiversity loss, carbon emissions, plastics and/or additional environmental impacts. Strategies vary. See fund information for further information.
Funds that limit or 'reduce' their exposure to carbon intensive industries (ie sectors which are major contributors to climate change. Funds vary - some funds may be 'underweight' in this area which means they may have some investment in highly carbon intensive areas. Funds of this kind may choose companies they consider to be 'best in sector' and encourage ever higher standards. Strategies vary. See fund information for further details.
Funds that have written policies explaining the approach they take when companies damage the environment or are significant polluters. Funds of this kind may work with companies to encourage higher standards, or exclude companies - sometimes dependent on the situation. Strategies vary. See fund information for further detail.
Find funds that have a policy or theme that relates to managing natural resources more efficiently. Funds with this policy will be likely to favour companies that make (or enable the) more efficient use of resources - and either avoid or encourage change amongst companies with lower standards. Strategies vary. See fund information for further detail.
Funds that are reviewing or encouraging companies to manage down the overuse of plastics (particularly single use, non-recyclable plastics). These funds will typically aim to encourage the use of alternative materials, but are unlikely to exclude companies purely on the basis of their use of plastics. Strategies vary. See fund information for further detail.
Nature & Biodiversity
Find funds that have policies in place designed to ensure they do not invest in companies that are significantly involved in deforestation. This typically relates to palm oil plantations where biodiversity loss is a major concern (as well as other issues). Strategies vary. See fund information for further detail.
Find funds that have policies in place explaining that they avoid companies involved in illegal and/or unsustainable deforestation. This may relate to palm oil, cattle farming or other concerns. Strategies vary. See fund information for further detail.
Find funds that aim to avoid investing in companies that produce genetically modified seeds or crops. (This does not typically include avoiding companies such as supermarkets). See fund literature for further information.
Climate Change & Energy
Funds that have policies (documented strategies that explain their position on) climate change related issues such as greenhouse gas/carbon emissions, net zero, transitioning to lower carbon. Strategies vary. Read fund details for further information.
Funds that avoid investing in major coal, oil and/or gas (extraction) companies. Funds vary: some may exclude all companies that extract oil. Others may have exposure to oil extraction via more diversified energy companies. See fund literature to confirm details.
Funds that avoid companies involved in fracking and tar sands - which are widely regarded as controversial methods of oil and gas extraction. Strategies vary. See fund information for further information.
Funds that avoid investing in companies with coal, oil and gas reserves. See fund information for further details.
Funds that hold companies in the clean energy and renewable energy sectors (at the time research was supplied). Fund strategies vary, in particular the proportion of investment in these areas may vary significantly. Check fund literature for details.
Find funds that have policies which say they avoid or limit their investment in the nuclear industry. Strategies vary. See fund information for further detail.
Social / Employment
Find funds that have policies which set out their approach to social issues (e.g. human rights, labour standards, equal opportunities, child labour and adherence to internationally recognised codes such as the UN Global Compact). Funds with social policies typically avoid companies with low standards or work to encourage higher standards. See fund information for detail.
Find funds with policies or themes that set out their approach to health and wellbeing issues. Funds of this kind typically aim to invest in companies with high standards - or encourage high standards. Themed funds are likely to have more of an emphasis on this area. Strategies vary. See fund information for further detail.
Ethical Values Led Exclusions
Find funds that have policies that set out their position on ethical or 'personal values' based issues. Strategies vary. See fund information for further detail.
Companies are excluded if they are involved in any aspect of the production chain for tobacco products, including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Find funds that avoid companies that manufacture products intended specifically for military use. Fund strategies vary - particularly with regard to non-strategic military products. See fund literature for fund specific details.
Find funds that avoid investment in companies involved in the production of alcohol. Strategies vary; some funds allow a small proportion of profits to come from this area. See fund literature for further information.
Find funds that avoid companies with significant involvement in the gambling industry. Some funds may allow a small proportion of profits to come from this area. See fund policy for further details.
Find funds that avoid companies that derive significant income from pornography and related areas. Strategies vary. See fund details for further information.
Find funds with policies that require specific animal welfare standards to be met. These may reference well-known welfare standards (3Rs - Replace, Reduce, Refine) or certification schemes. Strategies vary. See fund information for further detail.
Human Rights
Find funds that have policies relating to human rights issues. Funds of this kind typically require companies to demonstrate higher standards, although some fund managers work to encourage improvements. Investee companies are often judged against internationally agreed norms or standards. Strategies vary. See fund information for further detail.
Find funds that have policies in place to ensure they do not invest in companies that employ children.
Find funds with policies that exclude companies or other assets where regimes are not democratic, or where people may be oppressed. May use eg. Freedom House research. Strategies vary. See fund literature for further information.
Find funds that have policies or a theme that relates to the responsible management of supply chains. These may relate to employment issues, notably people employed by their suppliers, as well as the sourcing of materials and products. See fund literature for further information.
Meeting Peoples' Basic Needs
Find funds that have policies or themes that set out their position on investment in the water sector and/or sanitation. Strategies vary. See fund information for further detail.
Governance & Management
Find fund options that have policies that relate to corporate governance issues such as board structure, executive remuneration, bribery and/or corporate corruption. These funds will typically avoid companies with poor practices. Strategies vary. See fund literature for further information.
Find funds that have policies explaining how managers will respond to assets / companies that do not comply with relevant anti-bribery and anti-corruption standards or laws. Strategies vary; options include stewardship/ engagement and divestment - or a combination. See fund literature for further information.
Fund Governance
Find funds that have an external committee that helps steer or advise fund managers on SRI policy or strategy related issues. These people may be paid for their time but are not employees of the fund manager.
Find funds that factor in 'environmental, social and governance' issues as part of their investment decision making process. A focus on 'ESG' typically means a fund is carrying out additional research to help reduce ESG related risks. It does not necessarily mean a focus on sustainability. Strategies vary. See fund literature.
Impact Methodologies
Funds that aim to help or support the delivery of positive social or environmental impacts (or societal/real world outcomes) by investing in companies they regard as beneficial to people and / or the planet. Strategies vary. See fund literature for further information.
Find funds that specifically set out to help deliver positive environmental impacts, benefits or 'real world' outcomes.
Find funds that specifically state that they aim to deliver positive social (i.e. people related) impacts and/or outcomes.
Find funds that direct investment towards companies where a major part of their business is about solving environmental challenges. e.g. companies helping to address climate change.
How The Fund Works
Find funds that focus on finding and investing in companies with positive / beneficial attributes. This strategy can be applied in addition to exclusion criteria and engagement/stewardship activity.
Find funds where their main approach is to apply positive or negative ethical, social and / or environmental screens. Strictly screened funds are likely to exclude more companies than other related fund options. See fund literature for further information.
Find funds that consider both the 'positive' and 'negative' aspects of company behaviour and make balanced, considered decisions as part of their investment approach. May apply to a range of different issues and policy areas.
Find funds that use internationally agreed standards, conventions and 'norms' to help direct where the fund can and cannot invest (e.g. the UN Global Compact, UN Sustainable Development Goals). Read fund literature for further information.
Find funds that have published explanations of their ethical, social and/or environmental policies online (i.e. fund decision making strategies/ buy/sell &/or asset management strategies).
Intended Clients & Product Options
Find funds that are available via a tax efficient ISA product wrapper.
Fund Management Company Information
About The Business
Finds fund management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.
Find fund management companies that actively encourage higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.
Find fund managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)
Find fund managers that consider responsible ownership and ESG to be a key differentiator for their business.
Find fund management companies that aim to align all their investments (across all funds) to help meet the aims of the UN Sustainable Development Goals.
Find funds run by fund managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies they invest in across funds (not normally limited to ethical or SRI options.) Read fund literature for further information.
Find fund management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.
Find fund management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).
Collaborations & Affiliations
Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment'.
Find fund management companies that are members of UKSIF - the UK Sustainable Investment and Finance association
Find fund management companies that have partnered with Fund EcoMarket - meaning that they are helping to improve access to information on sustainable and responsible investment by paying an annual fee to us which enables us to publish information for free. Partner funds are listed ahead of other funds and have their logos displayed.
Resources
Find fund management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.
Find a fund management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.
Find fund management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.
Accreditations
Find fund managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where fund managers are encouraged to behave like responsible, typically longer term 'company owners'.
Engagement Approach
Find fund management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
Find fund management companies that are working with the companies they invest in to encourage more responsible corporate taxation.
Company Wide Exclusions
Find fund management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.
Find funds / fund managers that are reviewing, or have reviewed, their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. (Typically with reference to climate change.)
Climate & Net Zero Transition
Find fund management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.
Find fund management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.
Transparency
Find fund management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.
Find companies that publish information about their sustainable and responsible investment strategies on their company website.
Fund management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.
Find fund management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information.
Sustainable, Responsible &/or ESG Policy:
While we recognise the personal nature of everyone’s ethics, we aim to ensure that the funds are reflective of the wider views of those who invest in them. We regularly review the criteria, both positive and negative, through customer surveys and consultations to ensure they remain relevant and industry leading. This approach is overseen by the Ethical Funds Advisory Group, consisting of both independent external members and key members of staff.
Positive Criteria
Using positive criteria, we allocate the majority of the funds to companies or issuers that are involved in activities that benefit society and the environment. We use the UN Global Compact (www.unglobalcompact.org) to define the four areas where we seek to invest in companies with positive business practices and services.
Corporate Governance
The funds adopt a formal corporate governance policy. We actively vote at the AGMs of the companies held in the funds. Due consideration is given to issues such as board independence, excessive remuneration and audit issues. Voting is conducted within the terms of the Ethical Funds Sustainability Approach and in the best of interests of the investors in the funds. In addition, the funds will adopt a policy of voting:
- against the Chair of any company where the board fails to have set policy, have oversight or take responsibility for environmental, social, health & safety and human rights issues
- against members of any health, safety and environment committee where insufficient oversight has resulted in poor performance in these areas.
Engagement
The funds pursue an active engagement policy. We engage with companies on a range of environmental, social and governance issues with the aim that good corporate behaviour is adopted by the companies in which the funds invest. Where engagement proves ineffective and concerns remain over corporate behaviour
and oversight of these issues, we will disinvest from a company. It is our ambition that this active engagement will challenge and encourage companies in which the funds invest to improve their environmental, social and governance performance and practices.
Negative criteria
We also use negative criteria to avoid investing in companies involved in certain industries and activities that our customers are concerned with. We will avoid investment in companies involved in the activities listed below:
- Alcohol production: companies that derive 10% or more of revenue from alcohol production.
- Animal testing: companies that manufacture products or ingredients that have been tested on animals.
- Animal husbandry: companies with significant exposure to activities which may lead to poor animal husbandry, such as intensive or factory farming, where there is evidence of poor practices or that do not respect the five freedoms (freedom from hunger and thirst; from discomfort; from pain, injury and disease; to express normal behaviour; from fear and distress).
- Environmental protection: companies that –
- fail to recognise the environmental responsibilities associated with their activities
- have a significant or unmitigated harmful effect on the environment or its inhabitants
- are involved in highly carbon intensive activities or have high greenhouse gas emissions and have failed to show commitment to address climate change issues
- have significant carbon intensive mining operations, such as in coal or tar-sands
- manufacture chemicals of concern (such as ozone depleting chemicals and pesticides) without stringent policies, processes and practices to mitigate the harmful impact of their processes and products
- have a business model based on the production of fossil fuels (such as oil & gas exploration and production companies)
- are involved in GMOs for agricultural crop or livestock production
- have operations that produce, manufacture or use commodities (such as cotton, timber, soya, palm oil or cattle) without sufficient processes in place to ensure their activities do not contribute to significant or unmitigated deforestation, significant biodiversity loss, or harm to the environment or communities.
- Employment: companies that have a harmful effect on their employees. This will include, but is not limited to, companies that –
- use child or forced labour
- demonstrate a lack of regard for their employees’ health & safety
- have been linked to bad employment practices, such as modern slavery, lack of collective bargaining, not paying the minimum wage, or other abuses of employees.
- Fur: companies that manufacture or sell fur products that are not a by-product of the meat industry (e.g. wool or leather).
- Gambling: companies that derive 10% or more revenue from involvement in gambling.
- Human rights: companies that –
- operate in any country with a poor record of human rights and fail to have mechanisms in place to uphold human rights
- face continued accusations of human rights abuses, no matter where they operate
- have been involved in controversial projects that have been linked to human rights abuses
- are deemed to be supporting controversial regimes.
- Marketing breast milk substitutes: companies that market breast milk substitutes and have failed to adopt industry-leading marketing practices (such as those defined under the World Health Organisation’s International Code of Marketing of Breast-Milk Substitutes).
- Nuclear: companies involved in the mining of uranium, and operators and owners of nuclear power stations, deriving more than 5% revenue from nuclear power generation.
- Poor business practices: companies with evidence of poor business practices that cause harm to society or their employees that have not already been captured under other criteria (such as predatory lending and high interest rate lenders which have demonstrated poor business practices).
- Pornography: companies that derive 3% or more revenue from adult entertainment services, including publishing and distributing pornographic magazines or newspapers, or violent video games.
- Tobacco: companies that produce tobacco products or grow or process raw tobacco leaves. Equally, companies that derive more than 20% of revenue from supplying products essential to the tobacco industry.
- UN Global Compact: companies that have failed one or more of the ten principles of the UN Global Compact (www.unglobalcompact.org)
- Weapons: companies that manufacture or sell whole or strategic parts of weapons systems and weapons platforms.
- Equally, companies that derive more than 20% of revenue from non-offensive military sales, such as vehicles or support to the military.
Resources, Affiliations & Corporate Strategies:
Investments Vector Sustainability Group:
- Amanda Young - Chief Sustainability Officer (8 years at Firm, 25 years in Industry)
- Eva Cairns - Head of Sustainability Insights & Climate Strategy (11 years at Firm, 16 years in Industry)
- Anna Moss - Senior Sustainability Analyst (12 years at Firm, 12 years in Industry)
- Ann Meoni - Senior Sustainability Analyst (8 years at Firm, 8 years in Industry)
- Elizabeth (Meyer) Chiweshenga - Senior Sustainability Analyst (9 years at Firm, 9 years in Industry)
- Nick Gaskell - Sustainability Analyst (Less than a year at firm, 7 years in Industry)
- Ziggy You - Sustainability Analyst (3 years at Firm, 3 years in Industry)
- Aidan Maloney - Graduate Business Analyst (Less than a year at Firm, less than a year in Industry)
- Dan Grandage - Head of Sustainable Investments (8 years at firm, 8 years in Industry)
- Eilidh Duncan - Senior Sustainability Manager (2 years at firm, 4 years in Industry)
- Katy Grant - Senior Sustainability Manager (10 years at Firm, 10 years in Industry)
- Rachel Rotheram - Sustainability Analyst (4 years at firm, 4 years in Industry)
- Yolanda Yang - ESG BI Analyst (Less than a year at firm, 1 year in Industry)
- Maka Indorbaeva - Graduate Business Analyst (Less than a year at Firm, less than a year in Industry)
- Andrew Mason - Head of Active Ownership (10 years at firm, 17 years in Industry)
- Douglas Wilson - Senior Sustainability Manager (22 years at firm, 25 years in Industry)
- Joanna Sulc - Senior Sustainability Manager (7 years at Firm, 20 years in Industry)
- Kathleen Dewandeleer - Senior Sustainability Manager (3 years at firm, 30 years in Industry)
- Nick Duncan - Senior Sustainability Manager (7 years at Firm, 25 years in Industry)
- Claire Leighton - Sustainability Manager (12 years at Firm, 12 years in Industry)
- Stuart Riddick - Sustainability Manager (3 years at Firm, 3 years in Industry)
- Katie Mint - Sustainability Support (2 years at Firm, 2 years in Industry)
- Danielle Welsh-Rose - Head of Sustainability Investment Specialists & APAC Sustainability (2 years at Firm, 20 years in Industry)
- Jamie Govan - Sustainability Director (14 years at Firm, 14 years in Industry)
- Neil Murdoch - Senior Sustainability Specialist (6 years at Firm, 16 years in Industry)
- Nicola Skrastin - Sustainability Specialist (5 years at Firm, 5 years in Industry)
- Qianlin Li - Sustainability Specialist (Less than a year at Firm, 10 years in Industry)
- Sylvain Augoyard - Sustainability Manager - APAC (Less than a year at Firm, 13 years in Industry)
- Daniel Bowie-MacDonald - Sustainability Investment Specialist (9 years at Firm, 10 years in Industry)
- Sheela Veerappan - Sustainability Investment Specialist - APAC (Less than a year at Firm, 18 years in Industry)
- Fionna Ross -Sustainability Investment Specialist & Head of Sustainability Institute - Americas (14 years at Firm, 14 years in Industry)
- Toby Grubb - Sustainability Support (1 year at Firm, 1 year in Industry)
Equity:
- Sarah Norris - Head of ESG - Equities (11 years at Firm, 12 years in Industry)
- David Smith - Senior Investment Director (10 years at Firm, 16 years in Industry)
- Jerry Goh - Investment Manager (7 years at Firm, 7 years in Industry)
- Daniel Ng - Investment Manager (5 years at Firm, 5 years in Industry)
- Andrew Risk - UK Equity ESG Analyst (Less than a year at Firm, 9 years in Industry)
- Fraser Harle - Investment Analyst (6 years at Firm, 7 years in Industry)
- Tzoulianna Leventi - ESG Analyst and Investment Analyst (4 years at Firm, 4 years in Industry)
- Jonny Salvage - ESG Analyst - European Equities (Less than a year at Firm, 4 years in Industry)
Multi-Asset:
- Craig MacKenzie - Head of SAA Research (11 years at Firm, 25 years in Industry)
- Catie Wearmouth - ESG Investment Director – Multi Asset Solutions (1 year at Firm, 23 years in Industry)
- Fiona Ritchie - ESG Investment Manager (10 years at Firm, 35 years in Industry)
Fixed Income:
- Marianne Zangerl - Head of ESG Fixed Income (7 years at Firm, 13 years in Industry)
- Nicholas Kordowski - Head of Non-Financials Research (12 years at Firm, 18 years in Industry)
- Andrew Fraser - Head of Financials Research (13 years at Firm, 31 years in Industry)
- George Westervelt - Head of US HY Research (13 years at Firm, 23 years in Industry)
- Julien Martin - Head of Euro HY Research (9 years at Firm, 17 years in Industry)Paul Lukaszewski - Head of Asian Corporate Debt & Emerging Market Credit Research (11 years at Firm, 21 years in Industry)
- Matthew Kence - Investment Director (12 years at Firm, 19 years in Industry)
- Josef Helmes - Investment Director (10 years at Firm, 21 years in Industry)
- Mark Munro - Investment Director (9 years at Firm, 16 years in Industry)
- Samuel Bevan - Investment Manager (10 years at Firm, 10 years in Industry)
- Henry Loh - Investment Manager (8 years at Firm, 8 years in Industry)
- Emilia Matei - Investment Analyst (7 years at Firm, 7 years in Industry)
- Kate McGrath - ESG Analyst - Fixed Income (3 years at Firm, 3 years in Industry)
- Scott McQuiston - ESG Analyst - Fixed Income (2 years at Firm, 2 years in Industry)
- Khashayar Lotfizadeh - Global Head of Quantitative Analytics (8 years at Firm, 8 years in Industry)
- Samuel Grantham - Investment Director (9 years at Firm, 9 years in Industry)
- Thomas Leys - Investment Director (9 years at Firm, 10 years in Industry)
- Jonathan Mondillo - Head of Municipals (4 years at Firm, 17 years in Industry)
- Nicole Lim - Investment Analyst (1 year at Firm, 5 years in Industry)
- Curt Starer - Investment Director (15 years at Firm, 22 years in Industry)
- Janaka Nanayakkara - Investment Director (7 years at Firm, 15 years in Industry)
- Albane Poulin - Head of European Private Placements (7 years at Firm, 10 years in Industry)
- Eliza Uphadya - Lending Manager (6 years at Firm 6 years in Industry)
Literature
| Fund Name | SRI Style | SDR Labelling | Product | Region | Asset Type | Launch Date | Last Amended |
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|---|---|---|---|---|---|---|---|---|
Standard Life abrdn Ethical Corporate Bond Life (ASI) |
Ethical Style | - | Life | UK | Fixed Interest | 11/03/2013 | ||
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Fund Size: £1.40m (as at: 31/12/2023) ISIN: GB00B84GN119, GB00B8HQZY51 |
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Sustainable, Responsible &/or ESG OverviewThis Pension product is linked to the "abrdn Ethical Corporate Bond" fund. The following information refers to the primary fund.
Awaiting update from fund manager - fund last updated October 2022
We recognise that the world faces significant environmental and social challenges. We run a number of Ethical Funds that seek to invest in companies that are supporting the solutions to these challenges and uphold the highest standards of corporate responsibility. The Ethical Corporate Bond Fund aims to provide a level of income, before charges, above that available on UK Government bonds by investing predominantly in investment grade bonds. The fund is actively managed by our investment teams who may invest in a wide range of bonds (e.g. corporate bonds including sub investment grade bonds, overseas bonds, index-linked bonds, floating rate notes (FRNs) and asset backed securities (ABSs) and/or money market instruments) in order to take advantage of opportunities they have identified and which meet our strict ethical criteria. These criteria are agreed with the Ethical Funds Advisory Group and may be amended from time to time if considered appropriate. The fund manager will exclude companies which fail to meet the ethical criteria whilst seeking to include companies whose business activities are regarded as making a positive contribution to society.
|
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|
Information received directly from Fund Manager |
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Fund FiltersEnvironmental - General
Environmental policy
Funds that have policies which relate to environmental issues. These will typically set out the fund's stance on issues such as pollution, climate change, resource management, biodiversity loss, carbon emissions, plastics and/or additional environmental impacts. Strategies vary. See fund information for further information.
Limits exposure to carbon intensive industries
Funds that limit or 'reduce' their exposure to carbon intensive industries (ie sectors which are major contributors to climate change. Funds vary - some funds may be 'underweight' in this area which means they may have some investment in highly carbon intensive areas. Funds of this kind may choose companies they consider to be 'best in sector' and encourage ever higher standards. Strategies vary. See fund information for further details.
Environmental damage and pollution policy
Funds that have written policies explaining the approach they take when companies damage the environment or are significant polluters. Funds of this kind may work with companies to encourage higher standards, or exclude companies - sometimes dependent on the situation. Strategies vary. See fund information for further detail.
Resource efficiency policy or theme
Find funds that have a policy or theme that relates to managing natural resources more efficiently. Funds with this policy will be likely to favour companies that make (or enable the) more efficient use of resources - and either avoid or encourage change amongst companies with lower standards. Strategies vary. See fund information for further detail.
Plastics policy
Funds that are reviewing or encouraging companies to manage down the overuse of plastics (particularly single use, non-recyclable plastics). These funds will typically aim to encourage the use of alternative materials, but are unlikely to exclude companies purely on the basis of their use of plastics. Strategies vary. See fund information for further detail. Nature & Biodiversity
Deforestation / palm oil policy
Find funds that have policies in place designed to ensure they do not invest in companies that are significantly involved in deforestation. This typically relates to palm oil plantations where biodiversity loss is a major concern (as well as other issues). Strategies vary. See fund information for further detail.
Illegal deforestation exclusion policy
Find funds that have policies in place explaining that they avoid companies involved in illegal and/or unsustainable deforestation. This may relate to palm oil, cattle farming or other concerns. Strategies vary. See fund information for further detail.
Avoids genetically modified seeds/crop production
Find funds that aim to avoid investing in companies that produce genetically modified seeds or crops. (This does not typically include avoiding companies such as supermarkets). See fund literature for further information. Climate Change & Energy
Climate change / greenhouse gas emissions policy
Funds that have policies (documented strategies that explain their position on) climate change related issues such as greenhouse gas/carbon emissions, net zero, transitioning to lower carbon. Strategies vary. Read fund details for further information.
Coal, oil & / or gas majors excluded
Funds that avoid investing in major coal, oil and/or gas (extraction) companies. Funds vary: some may exclude all companies that extract oil. Others may have exposure to oil extraction via more diversified energy companies. See fund literature to confirm details.
Fracking and tar sands excluded
Funds that avoid companies involved in fracking and tar sands - which are widely regarded as controversial methods of oil and gas extraction. Strategies vary. See fund information for further information.
Fossil fuel reserves exclusion
Funds that avoid investing in companies with coal, oil and gas reserves. See fund information for further details.
Invests in clean energy / renewables
Funds that hold companies in the clean energy and renewable energy sectors (at the time research was supplied). Fund strategies vary, in particular the proportion of investment in these areas may vary significantly. Check fund literature for details.
Nuclear exclusion policy
Find funds that have policies which say they avoid or limit their investment in the nuclear industry. Strategies vary. See fund information for further detail. Social / Employment
Social policy
Find funds that have policies which set out their approach to social issues (e.g. human rights, labour standards, equal opportunities, child labour and adherence to internationally recognised codes such as the UN Global Compact). Funds with social policies typically avoid companies with low standards or work to encourage higher standards. See fund information for detail.
Health & wellbeing policies or theme
Find funds with policies or themes that set out their approach to health and wellbeing issues. Funds of this kind typically aim to invest in companies with high standards - or encourage high standards. Themed funds are likely to have more of an emphasis on this area. Strategies vary. See fund information for further detail. Ethical Values Led Exclusions
Ethical policies
Find funds that have policies that set out their position on ethical or 'personal values' based issues. Strategies vary. See fund information for further detail.
Tobacco and related product manufacturers excluded
Companies are excluded if they are involved in any aspect of the production chain for tobacco products, including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Armaments manufacturers avoided
Find funds that avoid companies that manufacture products intended specifically for military use. Fund strategies vary - particularly with regard to non-strategic military products. See fund literature for fund specific details.
Alcohol production excluded
Find funds that avoid investment in companies involved in the production of alcohol. Strategies vary; some funds allow a small proportion of profits to come from this area. See fund literature for further information.
Gambling avoidance policy
Find funds that avoid companies with significant involvement in the gambling industry. Some funds may allow a small proportion of profits to come from this area. See fund policy for further details.
Pornography avoidance policy
Find funds that avoid companies that derive significant income from pornography and related areas. Strategies vary. See fund details for further information.
Animal welfare policy
Find funds with policies that require specific animal welfare standards to be met. These may reference well-known welfare standards (3Rs - Replace, Reduce, Refine) or certification schemes. Strategies vary. See fund information for further detail. Human Rights
Human rights policy
Find funds that have policies relating to human rights issues. Funds of this kind typically require companies to demonstrate higher standards, although some fund managers work to encourage improvements. Investee companies are often judged against internationally agreed norms or standards. Strategies vary. See fund information for further detail.
Child labour exclusion
Find funds that have policies in place to ensure they do not invest in companies that employ children.
Oppressive regimes (not free or democratic) exclusion policy
Find funds with policies that exclude companies or other assets where regimes are not democratic, or where people may be oppressed. May use eg. Freedom House research. Strategies vary. See fund literature for further information.
Responsible supply chain policy or theme
Find funds that have policies or a theme that relates to the responsible management of supply chains. These may relate to employment issues, notably people employed by their suppliers, as well as the sourcing of materials and products. See fund literature for further information. Meeting Peoples' Basic Needs
Water / sanitation policy or theme
Find funds that have policies or themes that set out their position on investment in the water sector and/or sanitation. Strategies vary. See fund information for further detail. Governance & Management
Governance policy
Find fund options that have policies that relate to corporate governance issues such as board structure, executive remuneration, bribery and/or corporate corruption. These funds will typically avoid companies with poor practices. Strategies vary. See fund literature for further information.
Anti-bribery and corruption policy
Find funds that have policies explaining how managers will respond to assets / companies that do not comply with relevant anti-bribery and anti-corruption standards or laws. Strategies vary; options include stewardship/ engagement and divestment - or a combination. See fund literature for further information. Fund Governance
Employ external (fund) oversight or advisory committee
Find funds that have an external committee that helps steer or advise fund managers on SRI policy or strategy related issues. These people may be paid for their time but are not employees of the fund manager.
ESG integration strategy
Find funds that factor in 'environmental, social and governance' issues as part of their investment decision making process. A focus on 'ESG' typically means a fund is carrying out additional research to help reduce ESG related risks. It does not necessarily mean a focus on sustainability. Strategies vary. See fund literature. Impact Methodologies
Aims to generate positive impacts (or 'outcomes')
Funds that aim to help or support the delivery of positive social or environmental impacts (or societal/real world outcomes) by investing in companies they regard as beneficial to people and / or the planet. Strategies vary. See fund literature for further information.
Positive environmental impact theme
Find funds that specifically set out to help deliver positive environmental impacts, benefits or 'real world' outcomes.
Positive social impact theme
Find funds that specifically state that they aim to deliver positive social (i.e. people related) impacts and/or outcomes.
Invests in environmental solutions companies
Find funds that direct investment towards companies where a major part of their business is about solving environmental challenges. e.g. companies helping to address climate change. How The Fund Works
Positive selection bias
Find funds that focus on finding and investing in companies with positive / beneficial attributes. This strategy can be applied in addition to exclusion criteria and engagement/stewardship activity.
Strictly screened ethical fund
Find funds where their main approach is to apply positive or negative ethical, social and / or environmental screens. Strictly screened funds are likely to exclude more companies than other related fund options. See fund literature for further information.
Balances company 'pros and cons' / best in sector
Find funds that consider both the 'positive' and 'negative' aspects of company behaviour and make balanced, considered decisions as part of their investment approach. May apply to a range of different issues and policy areas.
Norms focus
Find funds that use internationally agreed standards, conventions and 'norms' to help direct where the fund can and cannot invest (e.g. the UN Global Compact, UN Sustainable Development Goals). Read fund literature for further information.
SRI / ESG / Ethical policies explained on website
Find funds that have published explanations of their ethical, social and/or environmental policies online (i.e. fund decision making strategies/ buy/sell &/or asset management strategies). Intended Clients & Product Options
Available via an ISA (OEIC only)
Find funds that are available via a tax efficient ISA product wrapper. Fund Management Company InformationAbout The Business
Responsible ownership / stewardship policy or strategy (AFM company wide)
Finds fund management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.
ESG / SRI engagement (AFM company wide)
Find fund management companies that actively encourage higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.
Vote all* shares at AGMs / EGMs (AFM company wide)
Find fund managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)
Responsible ownership / ESG a key differentiator (AFM company wide)
Find fund managers that consider responsible ownership and ESG to be a key differentiator for their business.
SDG aligned aims / objectives (AFM company wide)
Find fund management companies that aim to align all their investments (across all funds) to help meet the aims of the UN Sustainable Development Goals.
Responsible ownership policy for non SRI funds (AFM company wide)
Find funds run by fund managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies they invest in across funds (not normally limited to ethical or SRI options.) Read fund literature for further information.
Integrates ESG factors into all / most (AFM) fund research
Find fund management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.
Diversity, equality & inclusion engagement policy (AFM company wide)
Find fund management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide). Collaborations & Affiliations
PRI signatory
Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment'.
UKSIF member
Find fund management companies that are members of UKSIF - the UK Sustainable Investment and Finance association
Fund EcoMarket partner
Find fund management companies that have partnered with Fund EcoMarket - meaning that they are helping to improve access to information on sustainable and responsible investment by paying an annual fee to us which enables us to publish information for free. Partner funds are listed ahead of other funds and have their logos displayed. Resources
In-house responsible ownership / voting expertise
Find fund management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.
Employ specialist ESG / SRI / sustainability researchers
Find a fund management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.
Use specialist ESG / SRI / sustainability research companies
Find fund management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors. Accreditations
UK Stewardship Code signatory (AFM company wide)
Find fund managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where fund managers are encouraged to behave like responsible, typically longer term 'company owners'. Engagement Approach
Regularly lead collaborative ESG initiatives (AFM company wide)
Find fund management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
Encourage responsible corporate taxation (AFM company wide)
Find fund management companies that are working with the companies they invest in to encourage more responsible corporate taxation. Company Wide Exclusions
Controversial weapons avoidance policy (AFM company wide)
Find fund management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.
Review(ing) carbon / fossil fuel exposure for all funds (AFM company wide)
Find funds / fund managers that are reviewing, or have reviewed, their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. (Typically with reference to climate change.) Climate & Net Zero Transition
Encourage carbon / greenhouse gas reduction (AFM company wide)
Find fund management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.
In-house carbon / GHG reduction policy (AFM company wide)
Find fund management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions. Transparency
Publish responsible ownership / stewardship report (AFM company wide)
Find fund management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.
Full SRI / responsible ownership policy information on company website
Find companies that publish information about their sustainable and responsible investment strategies on their company website.
Publish full voting record (AFM company wide)
Fund management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.
Dialshifter statement
Find fund management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information. Sustainable, Responsible &/or ESG Policy:While we recognise the personal nature of everyone’s ethics, we aim to ensure that the funds are reflective of the wider views of those who invest in them. We regularly review the criteria, both positive and negative, through customer surveys and consultations to ensure they remain relevant and industry leading. This approach is overseen by the Ethical Funds Advisory Group, consisting of both independent external members and key members of staff.
Positive Criteria Using positive criteria, we allocate the majority of the funds to companies or issuers that are involved in activities that benefit society and the environment. We use the UN Global Compact (www.unglobalcompact.org) to define the four areas where we seek to invest in companies with positive business practices and services.
Corporate Governance The funds adopt a formal corporate governance policy. We actively vote at the AGMs of the companies held in the funds. Due consideration is given to issues such as board independence, excessive remuneration and audit issues. Voting is conducted within the terms of the Ethical Funds Sustainability Approach and in the best of interests of the investors in the funds. In addition, the funds will adopt a policy of voting:
Engagement The funds pursue an active engagement policy. We engage with companies on a range of environmental, social and governance issues with the aim that good corporate behaviour is adopted by the companies in which the funds invest. Where engagement proves ineffective and concerns remain over corporate behaviour and oversight of these issues, we will disinvest from a company. It is our ambition that this active engagement will challenge and encourage companies in which the funds invest to improve their environmental, social and governance performance and practices.
Negative criteria We also use negative criteria to avoid investing in companies involved in certain industries and activities that our customers are concerned with. We will avoid investment in companies involved in the activities listed below:
Resources, Affiliations & Corporate Strategies:Investments Vector Sustainability Group:
Equity:
Multi-Asset:
Fixed Income:
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