PPM evaluates UK companiesFebruary 2000
The fund management arm of the UK’s largest life insurer has begun evaluating the social and environmental performance of all the UK companies in which it has holdings.
Prudential Portfolio Managers (PPM), which holds shares in UK companies worth £52 billion [September 1999 figure], is the fund management company of Prudential plc.
PPM is using the Ethical Investment Research Service (EIRIS) to carry out the evaluations, which will take place on a regular basis. PPM staff will approach those companies identified by EIRIS as potentially problematic with a view to discussions.
A Prudential spokeswoman said: ‘We’ve always taken environmental and ethical factors into consideration but we are now planning a more systematic approach based on the belief that well managed companies produce better returns in the long run.’
In October Prudential launched a Light Green Fund designed to capture the ‘middle ground’ of the socially responsible investment market (EP6, 1999). The Light Green Fund is its first socially responsible investment vehicle.
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