Strategies from Aberdeen Standard, Schroders and Vanguard have been named 'spinner' funds for failing to stick to their ethical criteria in a new report from Castlefield.
In its report Winners and Spinners, the firm said a number of funds give "ethical and sustainable investing a bad name" for investing in tobacco and environmentally damaging extractive companies. The ethical advisory business also said applying negative screening in isolation and light touch ethical policies are not enough to be classed as an ESG fund, an area that is gaining in popularity and currently has £1.5trn in assets under management. From its research, Castlefield identified funds that were successfully and unsuccessfully sticking to their ethical criteria, with the top three...
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