Irish Investors are taking an increased interest in ethical investments which are performing strongly when compared with 'traditional' investment options. The Friends First Stewardship Fund which was launched in 1989, now has approximately €7.43 million of funds under management.

The Stewardship Fund which is the only ethical fund available in the Irish market is managed by Friends Ivory & Sime on behalf of F&C Ireland, the asset managers for Friends First. The fund has delivered an average performance of 8.4 per cent over three years (1999 to 2001), compared with an average peer group performance of 5.4 per cent, for the same period.

Commenting on the success of the Stewardship Fund, John Cunningham, General Manager, Group Planning and Marketing, said: "We are very happy with the performance of the Fund which shows that ethical investing can deliver strong returns. We have seen the interest in the Stewardship Fund grow steadily since its launch and performance continues to impress. Investors can access the fund via a range of Friends First savings and investment products as well as through our suite of pension products which are sold through the broker network. "

The Stewardship Fund enables investors to invest in certain companies which display positive criteria including, supplying the basic necessities of life, conserving energy or natural resources and providing high quality products of long term benefit to the community. The fund avoids investing in companies that are known to, cause excessive environmental damage, exploit third world countries, exploit animals, produce tobacco or alcohol, and sell weapons or pornography. Investing in UK and other international equity markets, the Stewardship fund also invests directly in Irish equities.

Stewardship Fund Breakdown:

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