06/11/2001 - 21:00

AM adds an ethical fund option

06/11/2001 - 21:00

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THE introduction of an ethical ‘fund of funds’ by master fund manager AM Corporation marks another step forward in the emergence of Australia’s ethical investing industry.

AM adds an ethical fund option
THE introduction of an ethical ‘fund of funds’ by master fund manager AM Corporation marks another step forward in the emergence of Australia’s ethical investing industry.

AM has selected three ethical investment funds for inclusion in its fund of funds.

Investors who choose this option will automatically have their money allocated across three underlying funds – AMP’s Sustainable Future International Share Fund, Australian Ethical’s Large Companies Share Trust and Challenger’s Socially Responsive Investment Fund.

The role of AM is to continually review the underlying funds to ensure that its clients have access to the most appropriate investments.

AM’s approach contrasts with other master trust managers, such as Asgard, Flexiplan and Your Prosperity, which have started offering a menu of ethical investment funds.

For instance, ASGARD offers four ethical funds managed by ABN AMRO, AMP, Rothschild and Westpac.

Another recent development was the launch of Westpac’s third ‘socially responsible’ investment fund.

Its Australian Sustainability Share Fund invests in Australian companies based on a ‘triple bottom line’ assessment, using social, environmental and economic criteria.

Westpac also runs the Australia Eco Share Fund, which assesses environmental criteria, and the Occupational Health & Safety Fund.

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