Do you want your savings to go into selling cigarettes?
By Patrick Collinson, The Guardian
Are you happy with 5% of every penny you save going into selling cigarettes? New research reveals how small investors in Britain are pouring their money into tobacco companies and giant oil and coal companies that are wrecking the environment without realising.
The report, released ahead of Good Money Week by ethical investment group Castlefield Advisory Partners, highlights how UK tracker funds are massively invested in tobacco and fossil fuel companies. Tracker funds have become hugely popular in recent years because they are very cheap, often charging less than 0.5% a year compared to “actively managed” funds charging double or triple that.