Church Group:
The Religious Society of Friends (Quakers)
We are an independent, progressive organisation committed to funding radical change towards a better world.
The JRCT makes grants to individuals and to projects seeking the creation of a peaceful world, political equality and social justice. We chiefly support work undertaken in the UK, Ireland and South Africa.
Contact Details The Garden House
Ethical Investment Policy We aim to invest in companies
whose products or services are of benefit to humankind, with minimal harmful impacts and with an emphasis on meeting basic needs rather than luxuries. We do not however automatically rule out companies whose activities might be considered largely frivolous if their customers are not predominantly the privileged in society.
whose profits in the long term grow at least in line with the economies in which they operate.
We recognise that there can be conflicts between these aims.
We expect our portfolio to have the following characteristics:
To be relatively concentrated, eg. by making significant investments in companies which fit these policies well.
To avoid companies materially involved in
(a) armaments;
(b) brewing/distilling and retailing of alcohol as a main activity;
(c) gambling;
(d) tobacco manufacture and retailing as a major activity;
(e) other activities which are felt to harm society more than they benefit it.
To have regard to the way companies conduct their businesses in all the markets in which they operate as well as what their business is. This includes
(a) employment conditions;
(b) equal opportunities policy and practice;
(c) enabling all employees to make the fullest possible contribution to a company’s progress;
(d) environmental impact while accepting some companies in extractive industries;
(e) attitudes to customers;
(f) openness in reporting to stakeholders;
(g) attitude to the communities in which they operate;
(h) integrity in all their dealings;
(i) promotion of human rights especially in countries with oppressive regimes;
(j) following best current practice in corporate governance.
We, and our investment managers, will usually be limited to investing in companies listed on a stock exchange.
We recognise that a proper diversification of the portfolio may entail holding companies in market sectors where no company comes up to standards we would ideally like to see.
Hence, we expect to see our portfolios constructed having regard to
(a) Our aim that in the long term the performance of the entire portfolio should at least match that of the FTSE All-Share Index.
(b) Investment overseas being undertaken with the primary purpose of making that aim more likely to be achieved.
It follows that our normal base position is to be fully invested in equities. Cash should only be held for tactical reasons or to protect the fund value in a failing market.