Skandia relaunches Ethical fund with environmental focus

Skandia has given its Ethical fund an environmental focus in an effort to boost sales.

Environmental specialist Impax Asset Management is now the sole manger of the £72m fund. Previously, the mandate was shared between J.P. Morgan, Aviva, Aegon and Impax. Skandia believes refocusing the fund in this way will give it more purpose and consequently make it more attractive to investors. The fund will continue to have an ethical screening but with a focus on environmental investments such as alternative energy and waste management. Other changes include reducing the value which may be invested in collective investment schemes from 30% to 10% and expanding the list of geog...