Independent investment firm and US equity specialist Brown Advisory has announced that its American SRI fund has reached $50m in assets one year after launch with strong UK and pan- European interest.
The fund was launched to give a bottom-up, fundamental approach to US equities but with an SRI screen for investors concerned about investing according to SRI guidelines. Brown Advisory partner and director Logie Fitzwilliam said: “We launched the fund in response to investor demand and it soon became clear we are one of the few institutions to provide such an offering. Given investor appetite for such a strategy, and solid performance to date, we expect assets to continue to grow.”
The fund only invests in companies that observe internationally recognised principles including the UN Global Compact’s Principles in the areas of human rights, labour standards, the environment and anti-corruption. It also avoids companies that that generate more than 3% of their turnover from adult entertainment services, or more than 5% of their turnover from alcohol, tobacco or military equipment. There is also a zero tolerance policy on companies generating revenue from the production or manufacture of controversial weapons – including cluster munitions, chemical, biological and nuclear weapons.