Bestinvest says
This is a well established ethical fund with impressive long term performance, albeit the ethical definition does give the fund broader parameters relative to some peers.
Ethical funds tend to suffer from their inability to invest in some areas of the market, typically the more cyclical sectors. Having said that Ryan has built an impressive track record over a sustained period and this is a leading fund in the ethical space although quite volatile.
The primary investment objective is to maximise total return by investing in equities in companies based in the UK, principally conducting business in the UK or listed on the UK stock market that meet the fund’s predefined ethical criteria.
The manager believes that valuation dispersions in small and mid cap stocks are more prevalent given the lower number of analysts that cover these stocks. Expect, therefore, that this fund will have a significant overweight to small cap stocks at times.
The fund uses "dark green" ethical criteria, avoiding companies whose activities could be considered harmful to society or the environment. An independent EIRIS database determines companies that comply with the ethical criteria and screens out companies involved in the following areas: Animal Welfare, Military, Nuclear Power, Environment (specifically covering the areas of PVC, ozone depleting chemicals, hazardous pesticides or which have been convicted of serious pollution offences, Political Donations, Genetic Engineering, Gambling, Alcohol, Tobacco, Pornography, Banks (are corporate or international banks with exposure to large corporate or Third World debt) and Oppressive Regimes. The fund will invest in energy and miners often employing a best in class approach to such companies.