Jupiter Asset Management's socially responsible funds have been hit by the global economic slowdown.
The fund manager's latest environmental research bulletin shows that during the last six months the Jupiter Ecology Fund and the Jupiter Environmental Opportunities Fund have been unable to escape the downturn in world equity markets.
The sharp fall in the Nasdaq adversely affected a number of environmental technology holdings in the fund even though in most cases the outlook and prospects had been enhanced.
The two funds' major holdings are in UK businesses which are doing their best to limit their impact on the environment rather than developing solutions to environmental problems.
Jupiter director and head of green department Simon Baker said: “The success of the Jupiter Ecology Fund and the Environmental Opportunities Fund proves the popularity of investing ethically and emphasises the point we have always made which is that you do not need to suffer in terms of performance if investing in an ethical fund.”
By Michael Schiniou
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