Friends Provident: Ethical banking 'on the increase'

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Friends Provident: Ethical banking 'on the increase'

Tue 27th Mar 2007

Socially responsible investors have doubled in number in the last ten years at life and pensions provider Friends Provident.

According to the FTSE 100 company, as of February 2007 some £3 billion has been invested in ethical Friends Provident funds.

While Londoners (23 per cent) are most likely to show conscience in their investment choices, uptake of Friends Provident funds is growing in other parts of the country.

This includes 13 per cent from the Midlands, ten per cent from the South of England and eight per cent from Lancashire, Wales, the West and Yorkshire.

While men (52 per cent) are slightly more likely to take up socially responsible funds than women (46 per cent), Friends Provident speculates that the average age of investors is rising.

Julia Drebow, marketing manager for socially responsible investment at Friends Provident, described the ethical stance as a "growing market".

She added: "People from all walks of life are finding that socially responsible investment is a real option for anybody who cares about what their money is doing. They are realising that investing in line with your personal values makes sound financial, as well as moral, sense."

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