New fund to target charities

FRIENDS First and asset management company, F&C Ireland are set to target Irish charitable foundations through the establishment of a new umbrella fund called the Charities Managed Fund.

The fund will provide access to four underlying funds - all managed by F&C, which is one of Europe’s leading managers of ethical investment portfolios.

The balance between the funds will be reviewed on a monthly basis by F&C Ireland’s asset allocation committee. At launch, the split will be 60% in the Stewardship International Fund, 30% in the Friends First Fixed Interest Fund, 5% in the Friends First Property Fund and 5% in the Friends First Cash Fund.