Vanguard has excluded tobacco stocks from two socially responsible investment (SRI) index funds; the SRI European Stock fund and the SRI Global Stock fund.
Effective 24 September, the expansion of the screening process will see the two funds excluded from investing in companies involved in the manufacture and distribution of tobacco products. Launched in September 2014, the £614m SRI Global Stock fund tracks the performance of the FTSE Developed index with an OCF of 0.25%. Of the benchmark's 2,140 stocks, it tracks 1,755 securities with Apple, Microsoft, Amazon and Alphabet as its top four holdings. The £593m European Stock fund is benchmarked against the FTSE Developed Europe index and holds 505 of its 560 stocks. The fund is mana...
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