Moola launches ‘ethical’ portfolios

By Daniel Lanyon on 21st March 2018

Robo-Advice

The robo-advice firm is tapping into increased demand for investing ‘with a conscience’, particularly among millenials.

Moola launches ‘ethical’ portfolios

The robo-advice firm is tapping into increased demand for investing ‘with a conscience’, particularly among millenials.

Robo-adviser Moola has launched its own brand of ‘ethical’ portfolios.

Gemma Godfrey, CEO of Moola, says the new portfolios will include exposure to companies that are “more socially responsible, greener and – arguably – better managed”.

Moola’s new portfolios will first screen out companies that are considered “harmful” such as weapons manufacturers and alcohol and tobacco producers. Next, companies are rated as to their impact on the environment their ‘social impact’ and their governance.

The firm said in an update to investors: “Over the past year we’ve noticed a steady increase in interest in ethical investing from old and young investors alike. Moola's customers have requested a way to invest ethically, and so it is something we have worked hard to deliver on the heels of our tax-aware investment service last month.”

Millenials are twice as likely to back ethical investments in their pensions than older generations, a YouGov poll found last year. The data show 13 per cent of 18 to 34 year-olds with a pension think it’s their responsibility to ensure their money is invested ethically. This compares to 6 per cent of 45 to 54 year-olds, and 7 per cent of over 55s.

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