Ethical investment fund shuns airlines

Tue, 05 Feb 2008

One investment firm has announced it will be steering clear of airline stocks following feedback from its clients.

Standard Life Investments said that its annual ethical investor survey had found 30 per cent of respondents thought that airline stocks should be excluded from its funds .

Julie McDowell, spokesperson for Standard Life Investments, said: "In light of the sizeable percentage of our investors wishing to avoid investment in airlines, the Ethical Committee has decided that our ethical policy should be adapted to reflect these views."

She added that the company's ethical investors would "welcome" the fact that their responses had gone towards shaping the criteria of the fund.

Standard Life Investments currently manages £588.5 million through its ethical fund range.

In 2007 the BBC reported that the amount of money in ethical investment fund was set to top £7 billion for the first time.

This compares with just £1.5 billion a decade before, it said.
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