Laing & Cruickshank looks to the starsDecember 1999
Celebrities and entertainers are to be offered a specially tailored ethical investment package by Laing & Cruickshank.
The investment management group is approaching agents and solicitors of international stars in the hope their clients will want to align their investments with moral causes they support publicly.
Michael Clarkson, investment director at Laing & Cruickshank, said many celebrities have publicly supported groups such as Amnesty International and may want to tailor their investments accordingly.
‘Our argument to the agents and solicitors is that their clients are often supporting ethical causes in public life, but may not realise their money is being invested contrary to those causes’, he said.
Laing & Cruickshank is offering the stars an individual segregated portfolio which allows clients to devise their own ethical criteria and, in conjunction with Cheltenham-based Ethical & Environmental Screening Services, to choose stocks and sectors accordingly.
‘It’s a bespoke service allowing clients the freedom to be as prescriptive as they want’, said Clarkson. ‘It’s not ethical investment by pre-determined criteria, and clients like the idea of having an involvement.
‘Once the ground rules are agreed we manage the portfolio in line with our conventional investment strategy’, he added.
Clarkson moved to Laing & Cruickshank in May with a team of colleagues from Credit Suisse, which offers a similar service. Since then they have built up a client list of 12 in what they claim is ‘an expanding market’.
The portfolio is on offer to clients with more than £100,000 to invest.
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