Inbrief

Friends Provident’s Stewardship Pension Fund has become the first retail ethical fund in the UK to exceed £1billion ($1.75bn) in assets under management. The 21-year-old fund was the UK’s first retail ethical pension fund. Vodafone, Scottish & Southern, National Grid, Workspace Group and Tesco are the largest holdings in the fund, which is run by F&C Asset Management for Friends Provident, the FTSE 100 life and pensions company. The seven funds in the Stewardship range have about £2.4billion under management, making Friends Provident the UK’s biggest ethical investment provider in terms of funds under management.