MP Joins Joanna Lumley in Supporting Ethical Investment

2.07.04

Liberal Democrat MP Edward Davey today attended an event in Westminster this Wednesday to mark the 20th anniversary of Stewardship Growth Fund, Britain's oldest ethical investment fund.

Launched in 1984 by pensions giant Friends Provident and ISIS Asset Management, Stewardship now manages funds of £1.5 billion. In doing so it helps investors out strip the FTSE All Share Index whilst only investing in socially responsible firms.

The anniversary celebration comes in the midst of research revealing a massive growth in public interest concerning ethical investment. A report published by MORI on the 17th June stated that not only did 64% of respondents feel that companies should take social and environmental issues more seriously, but that two thirds of investors think financial advisors should be encouraging ethical options.

Edward Davey joins Absolutely Fabulous' Joanna Lumley in supporting ethical investment. The TV star spent seven years as on the Stewardship Committee of Reference, helping to define the ethical guidelines for Stewardship's fund managers.

Commenting, Edward Davey said,

"It is with the utmost admiration and gratitude that I join with Joanna Lumley in my support of ethical investment. Her hard work and dedication as a member of the Committee of Reference has maintained Stewardship's role as a leader in the management of ethical funds.

"Undoubtedly, companies will seek out ethically sound social and environmental polices if they are encouraged to do so by financial advisors. With public interest so high in regards to this issue, it is good that companies are waking up and beginning to act in a socially conscious manner.

"Companies that act more responsibly will certainly reap the benefits with greater investment, but it should also be the case that fund managers motivate and encourage companies to do so."