F&C defends Tesco holding in Stewardship fund range

F&C Stewardship funds aspire to proactive engagement

F&C has defended itself over the inclusion of Tesco in its Stewardship range as the funds celebrated 25 years of ethical investment at a conference held in Westminster earlier this month. The F&C Stewardship UK Growth funds had 2.7% of its £500m assets in Tesco stock as at the 31st of August. During a Q&A session, IFAs in the audience queried the validity of an ethical fund investing in Tesco when there were question marks over the retail giant’s stance on animal welfare, anti-competitive practices and its dealings with suppliers and producers. Advisers complained that in many case...