Below are the holdings as at 1 July 2021. This includes the aim of each strategy, the style, whether they invest in assets which transitioning to deliver positive outcomes and example underlying holdings. For more details on the portfolio follow this link.

Fund NameAimStyleTransitioningExample HoldingsPercentage Holding
Fixed Interest / Absolute Return15.00%
Rathbone Ethical Bond FundThe aim is to achieve positive outcomes by investing in those companies which are doing things ethically and responsibly.EthicalNoLloyds Banking Group, Aviva PLC, HSBC Capital Funding, Scottish Widows and Legal and General Group.5.00%KIID
Aegon Ethical Corporate Bond FundThe aim is to deliver a combination of income and capital over a 7-year period within the fund’s predefined ethical criteria.EthicalCompanies are issuing ESG labelled bonds, and ring-fencing assets raised to deliver meaningful positive impact. The strategy has invested around 12% into this area and expects this to grow.LCR Finance PLC, Transport for London, ING Group, Skipton Building Society and Coventry Building Society.5.00%KIID
Newton Sustainable Real Return FundThe aim is to deliver a positive return by investing in companies which exhibit the following characteristics: solution providers (those providing solutions to environmental or social challenges), balance stakeholders (those that balance well social and enviromental issues) and transition.SustainableYes, the company will invest in companies that have committed explicitly to improving their environmental and social impacts.US 10 Year Notes Future, iShares Physical Gold, Wisdom Tree Physical Swiss Gold, Invesco Physical Gold and BNP Paribas Issuance.5.00%KIID
UK Equities8.00%
Premier Ethical FundThe aim is to deliver capital growth by excluding the negative (those companies with a negative social and environmental impact) and encouraging the positive (companies whose products and services make a contribution to sustainable development and aid environmental sustainability).EthicalThe ethical policy would exclude most transitioning companies. They may invest in a company where the transition had a material benefit to the key themes of health and education, protecting the planet and enhancing society.TinyBuild Inc, Frontier Developments PLC, Games Workshop Group PLC, Sumo Group PLC and Gym Group (The) PLC.5.00%KIID
Royal London Sustainable Leaders FundThe aim is to invest in companies that support the transition to a cleaner, safer, healthier and more inclusive society.SustainableYes, but only if a transitioning company was already significantly along that transition.Prudential PLC, Unilever PLC, SSE PLC, AstraZeneca PLC and Experian PLC.3.00%KIID
European Equities8.00%
ASI Europe ex UK Ethical Equity FundThe main aim is to deliver investor-led sustainability. The strategy excludes those sectors that investors are most concerned about, and prioritises those with the right processes and solutions. Investors have a voice in the criterion they employ to creat the investable universe.EthicalYes, they do invest in transitioning companies but within the guidelines set by the investors in the Ethical Approach Document. This document lays out the negative exclusions as well as the positives.ASML Holding, Iberdrola SA, Enel SpA, Schneider Electric SE and Partners Group Holding AG.4.00%KIID
Liontrust Sustainable Future European Growth FundThe aim is to invest in the economy of the future, and to do that they have identified 21 sustainable themes that are contributing in different ways to creating a cleaner, healthier and safer planet.SustainableNo.ASML Holding, Avanza Bank Holding, DNB, Svenska Handelsbanken and Roche Holdings.4.00%KIID
US Equities6.00%
Legg Mason ClearBridge US Equity Sustainability Leaders FundThe strategy uses the SDGs to provide a framework to complement and support the ESG considerations. They look to invest only in those companies with outstanding ESG characteristics. Themes or issues are specific to the opportunity set being analysed rather than broad. For example, food safety and wages in the consumer staples and discretionary sectors, and executive compensation and data security in financials.SustainableNo.Microsoft, Apple, Bank of America, TE Connectivity and UnitedHealth Group.6.00%KIID
Global Equities53.00%
BMO Responsible Global Equity FundThe aim is to invest in those companies which encourage a positive contribution to broader social and environmental issues by seeking sustainability leaders or potential leaders. They overlay an ethical screen within the process.EthicalNo.Microsoft, Apples, TSMC, Linde and Thermo Fisher Scientific.4.00%KIID
Sarasin Responsible Global Equity FundThe aim is to invest in those companies whose success is aligned with the long-term interests of society. Taking this a step further they are looking at companies with a social purpose that set out to solve issues of people and planet profitably, and do not profit from causing problems.EthicalYes, but they would not invest in any company where more than 5% of its revenues are derived from the extraction of fossil fuels, from tar sands and oil and gas extraction.Deere & Co, The Middleby Corp, Mastercard, Essilorluxottica and CME Group.4.00%KIID
Royal London Sustainable World TrustThe aim is to invest in companies that support the transition to a cleaner, safer, healthier and more inclusive society.SustainableYes, but only if a transitioning company was already significantly along that transition.Microsoft, Koninklijke Philips, Texas Instruments, AstraZeneca and Experian.4.00%KIID
Baillie Gifford Positive Change FundThe aim is to deliver a positive impact. They look for companies for whom delivering a positive impact is core to their business; whose products and services represent a significant improvement to the status quo; and who conduct business with honesty and integrity. Four key themes are social inclusion and education, environment and resource needs, healthcare and quality of life and base of the pyramid.ImpactYes, they recognise there is no perfect company and when considering investments they look at areas of controversy, the negative consequences of operations and a company’s awareness of those issues.Tesla, Moderna, M3, TSMC and ASML Holding.4.00%KIID
Ninety-One Global Enviroment FundThey aim to invest in companies across the pathways to a low carbon economy (which include renewable energy, electrification and resource efficiency) that they believe have structural growth potential, sustainable returns and strong competitive advantages.ImpactThey look to hold companies that they believe will benefit from the ongoing energy transition, and they would look to exclude companies where revenues would be significantly eroded by the transition.NextEra, Waste Management, Wuxi Lead Intelligent Equipment, Croda International and Aptiv.4.00%KIID
Regnan Global Equity Impact FundThe fund is a solutions-first strategy, focused on investing in mission-driven businesses that address underserved enviromental and social challenges and deliver real systematic change for the better.ImpactYes, the strategy will invest in transformational companies undergoing a significant shift in their business model or operations towards one that is focused on the delivery of a solution as identified using their proprietary systems.Evoqua Water Technologies, Xylem, Befesa SA, Agilent Technologies and Duerr.4.00%KIID
Foresight Sustainable Real Estate Securities FundThe fund will only invest in companies where they deliver a net social or environmental benefit. They believe sustainable real estate has a significant positive impact on society. The four key themes are – good health and wellbeing, industry innovation and infrastructure, sustainable cities and communities and climate action.SustainableNoSupermarket Income, Physicians Realty Trust, Medical Properties Trust, Civitas Social Housing and Arena.5.00%KIID
Foresight Global Real Infrastructure FundThe strategy only invests in companies that the investment team believes deliver a net social or environmental benefit and meets the ten principles of the United Nations Global Compact.SustainableNoEasterly Government Properties, Brookfield Infrastructure, Scatec ASA, Infratil Ltd and 3i Infrastructure.5.00%KIID
The Renewables Infrastructure Group LimitedTRIG is a London-listed investment company whose purpose is to generate sustainable returns from a diversified portfolio of renewable infrastructure that contribute towards a zero-carbon future.ImpactNoOnshire wind (55%), offshore wind (35%), Solar PV (9%) and Battery (1%).5.00%Factsheet
Civitas Social Housing PlcThe strategy is the leading REIT dedicated to investing in the social housing and healthcare sectors in the UK. They have a dual objective of achieving both positive financial returns and large scale measurable social impact.ImpactNoHigh Acuity Facility Wales, Healthcare Facility Wales. St Thomas House Chester, Bedwardine Court Worcester and Lancaster Avenue London.5.00%Factsheet
Impax Environmental Markets Trust PlcThe strategy invests in companies that provide solutions to resource scarcity and environmental pollution. Investee companies must be ‘pure plays’ generating at least 50% of their revenues from sales of enviromental products or services in the energy efficiency, renewable energy, water, waste or sustainable food markets. The 4 are used as impact metrics to measure and report on the environmental impact of the portfolio companies’ activities.ImpactNoGenerac Holdings Inc, Rayonier Inc, PTC Inc, Koninklijke DSM NV, and American Water Works Co Inc4.00%Factsheet
VT Gravis Clean Energy Income FundThe strategy invests in companies contributing to the transition to a low carbon economy and net zero emission targets, helping to combat climate change.SustainableIn the energy sector there remains a legacy of nuclear and fossil fuel generation – for companies involved in multiple generation methods, natural gas is deemed acceptable whereas any involvement in coal and nuclear activities is deemed unaccepetable.Renewables Infrastructure, Greencoat UK Wind, Atlantica Sustainable Infrastructure, TransAlta Renewables and Foresight Solar Fund.5.00%KIID
Asia and Emerging Markets10.00%
Stewart Investors Asia Pacific Sustainability FundThe strategy aims to achieve absolute returns over the long-term by making investments that contribute to positive social and environmental sustainability outcomes.SustainableYes, the engagement is key to this and if engagement shows no prospect of bring about the required change, they will divest.Mahindra & Mahindra, CSL, Hoya, Tata Consultancy Services and Unicharm.5.00%KIID
Carmignac Emerging Markets FundThe aim is to enable positive change in emerging market countries by contributing directly or indirectly to improve living standards in these countries with their investments. The strategy uses a combination of negative screening and exclusion policies as well as ESG integration and positive screening.SustainableYes, they are looking at trajectory and efforts undertaken by companies rather than having a static apporach that consists of looking at a company / its ESG scoring at a given time.JD.com, Samsung Electronics, Itausa Investimentos, TSMC and Hyundai Motor Co.5.00%KIID