We have decided to remove L&G Ethical Trust from our ACE 40 Ethical Rated list due to changes in the fund`s mandate that determines how money should be invested. To date, the fund has tracked the FTSE 350 Index and is a low-cost UK equity option within the ACE 40. On January 28, 2021, amendments will come into effect to give the fund a global mandate, track the MSCI World SRI Index and be renamed Legal & General MSCI World Socially Responsible Investment (SRI) Index Fund. As a result of these changes, the Fund will no longer be adapted to its current category within ACE 40 and its removal from the list is appropriate. The fund will be renamed Legal & General MSCI World Socially Responsible Investment Index effective today (28 January) and will track the MSCI World SRI Index. LGIM told Investment Week that it was considering other ways to manage the fund to better fulfill its ethical mandate after identifying the issue in its assessment. The £292.5 million fund previously tracked the FTSE 350 index and excluded shares of companies that did not meet the ethical screening methodology outlined in the prospectus. In its April AoV, LGIM noted that the FTSE 350 held a number of companies that were excluded by pleasure. Dzmitry Lipski, Head of Fund Research, said: “The fund`s objective in the past has been to achieve growth by tracking the performance of the FTSE 350, excluding shares of companies whose business did not comply with a set of ethical and environmental guidelines set by an external agency selected by the manager. The decision to withdraw the fund, which was part of the “Considers” part of the II ACE (Avoids, Considers, Embraces) ethical categories, was taken in accordance with methodology II ACE 40. The ACE 40 list is continuously monitored for “alert” events, including policy changes. Annual performance can be found on the fact sheet for each fund, trust or ETF. Simply click the resource name and then click the Performance tab.
The content of the Website is provided for informational purposes only and does not constitute an offer, solicitation or recommendation to buy or sell securities or financial instruments, nor does it form the basis of any contract, obligation or decision of any kind. It does not replace the complete documentation of the collective investment scheme concerned. This content does not constitute a personalized assessment or investment recommendation, and the information contained therein should not be construed as financial, tax or legal advice of any kind. Ian Cokie: This trusted duo fights against humanity`s invisible enemies Some of the information contained on this website may contain projections or other forward-looking statements regarding future events or the future financial performance of countries, markets or companies. These statements are only predictions and actual events or results may differ materially. You must make your own assessment of the relevance, accuracy and relevance of the information contained on this website and conduct any independent research you deem necessary or appropriate for the purposes of such evaluation. Any opinion or estimate contained on this website is generally expressed and should not be construed as advice on your part. The Website and its content are not directed to persons resident in Brunei Darussalam (“Brunei Person”) and no offer is made to Brunei Person to offer, buy or sell any investment services, products or securities. The provision of information on this website is for general information purposes only and does not constitute a recommendation, offer or solicitation to offer Brunei Person to invest or purchase securities.
The information we provide in the ACE 40 investment list does not constitute a “personal recommendation”. You must ensure that any investment decisions you make are appropriate to your personal situation and that the ethical style of investing reflects your personal beliefs. The fund`s objective is to achieve growth by tracking the performance of the MSCI World SRI Index, the benchmark index. This objective is after deduction of fees and taxes. The benchmark is composed of developed country equities. The index provides exposure to companies with outstanding environmental, social and governance (ESG) ratings and excludes companies with negative social or environmental impact. The Fund is a replicative fund because it seeks to replicate as closely as possible the components of the benchmark, less the components excluded by the ethical screening methodology, by holding all or substantially all of the remaining shares of the benchmark companies in proportions similar to their weighting in the benchmark. The fund will have exposure to the assets included in the benchmark. The Fund may also invest in shares of companies that may reasonably be expected to be part of the benchmark in the near future or that represent an alternative to a component of the benchmark and collective investment schemes, including those managed or operated by the AIFM`s manager or an associated enterprise, and money market instruments (such as treasury bills). Cash and deposits. The fund may only hold derivatives for the purpose of effective portfolio management. This website is intended for use by investment professionals only. It is not intended for use by individuals or the public in Brunei.
As used on the Website, the term “investment professional” generally refers to a person who is either an institutional investor or a person licensed to provide capital markets services under the Securities Market Ordinance 2013. This website is intended for use only by investment professionals. Your use of this website in any unauthorized jurisdiction is entirely at your own risk. You should seek advice on your position from your professional advisors. He said the fund had been classified as a “low-cost” option for UK equities in his list of ethical funds, the Ace 40, but the move to a global benchmark triggered a “red flag event” that could involve a change in policy. interactive investor, the UK`s second largest direct-to-consumer investment platform, has removed L&G Ethical Trust from its ACE 40 rated list of ethical investments after transferring the UK fund`s investment mandate to Global. In the section entitled “Disclaimer and liability”, the following text is inserted: “LGIM is liable for damages even in the event of a culpable breach of an essential contractual or cardinal obligation; however, in the event of a breach of an essential contractual duty or a cardinal duty based on simple negligence, LGIM`s liability is limited to typically foreseeable damages. A “cardinal obligation” within the meaning of this provision is an obligation of LGIM, the performance of which makes possible the proper performance of the contract in the first place, the breach of which jeopardizes the achievement of the object of the contract and on which you can regularly rely. Any further liability of LGIM is excluded. The fund has performed in line with expectations since its inclusion on the ACE 40 list, maintaining narrow tracking errors for the FTSE 350 in the short and long term, taking into account its ethical exclusions. Applicable laws may require certain information or communications to be in writing.
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