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Aberdeen Responsible UK Equities Ret Acc (OEIC/Unit Trust)

SRI Style: Ethically Balanced
Fund Type: OEIC/Unit Trust
Region: Global
Asset Type: Equity
Launch Date: 09/05/2006

SRI / Ethical Overview


The Fund invests 80% or more of its total net assets in UK equities. As well as choosing companies on the basis of their financial record, management and business prospects, the Manager will also consider environmental, social and other relevant criteria. Where the Manager believes that practices relating to these criteria are lacking they will encourage the company to adopt more responsible practices.


The Fund's equity investments can include equities and equity related securities that are issued by companies that are incorporated, or generate a significant part of their earnings, in the UK.



SRI / themed / ethical assets under management – overview

  • Fund Size (GBP):   27.0 m (30 April 2018)
  • Total value of SRI/ethical/environmental/ social/ environmental or sustainability themed funds:   Over 10 billion (31 March 2018)
  • Total value of assets covered by any additional ESG or responsible ownership policy:   490 billion (31 March 2018)
  • Total assets under management:   575.9 billion (31 March 2018)



SRI Policies (Primary strategy in bold)

  • Environmental policy Find investment funds with environmental policies - ie that consider issues such as pollution, climate change, resource management, environmental impact. This will include options from all of the different SRI Styles, including funds where their core strategy is to focus on other areas such as ethical funds. See fund information for fund specific policy details.
  • Governance policy Find fund options that have policies that relate to corporate governance issues such as board structure, executive remuneration, bribery and/or corporate corruption. These funds will typically avoid companies with poor practices.
  • Tobacco production avoided Find fund options that exclude manufacturers of tobacco (or related) products. This typically relates to ethical funds however funds from other SRI Styles commonly avoid this area also. Strategies vary and funds may invest in retailers of such products (e.g. supermarkets or hotels.) See fund information for further information.
  • Armaments manufacturers avoided Find ethical fund (and other SRI) options that avoid avoids companies that manufacture products intended specifically for military use. Fund strategies vary - particularly with regard to non strategic military products. Read fund literature for specific details.
  • Alcohol production excluded This filter helps you to find ethical funds - and other options - that avoid investment in alcohol production. See fund literature for further information.
  • Gambling avoidance policy Find ethical fund options (and other options) that avoid companies with significant involvement in the gambling industry. See fund policy for details.
  • Pornography avoidance policy Find ethical fund option - and in some cases other options - that avoid companies that derive significant income from pornography. See fund details for further information.

SRI Features

  • Negative selection bias Find funds where their main 'ethical approach' is to avoid companies by using negative screening criteria. Read fund literature for further information.
  • Over 50% large cap Find funds that invests more than half of their money into what are commonly regarded as 'large companies'. This will typically mean that the market capitalisation (or value) of the companies they hold is in excess of £5 to £10 billion.
  • Strictly screened ethical fund Find funds that have a high level of negative ethical avoidance. These funds are likely to exclude more companies than other ethical (and SRI) fund options. Read fund literature for further information.
  • Responsible ownership / stewardship policy Find funds that have a policy that sets out what they do with regard to responsible investment ownership - also known as 'stewardship'. This typically relates to issues such as dialogue with companies and shareholder voting.
  • ESG integration strategy Find funds that factor in 'environmental, social and governance' issues as part of their investment decision making process. (These typically relate to improved risk management.)
  • Combines ESG strategy with other SRI criteria Find funds that have an ESG strategy (which is typically focuses on avoiding companies that post environmental, social or governance related risks) with additional criteria such as positive and/or negative screens or engagement/stewardship strategies.
  • Invests mostly in large cap companies Find funds that have SRI strategies and focus their investment stock selection on larger companies (eg over £1bn)
  • External committee has veto powers Find funds that employ an external committee (ie not company employees) that has power to veto (ie overrule) fund managers stock selection decisions. (This would typically mean they can tell a fund manager to not buy (or to sell) a specific investment when they consider it necessary to do so. Eg if they feel a company is inappropriate.)

Corporate Activity

  • ESG/SRI engagement Find funds and fund management companies that actively encourages higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices amongst investee companies - when positive change is aligned with the best interest of investors. This may apply to a single fund or a group of funds. Read fund literature for further information.
  • Responsible Ownership policy for non SRI funds Find funds run by fund managers that apply Responsible Ownership or 'Stewardship' policies to all or most of their investment assets. This means that active involvement (e.g. voting, dialogue) with the companies they invest in across funds (not normally limited to ethical or SRI options.) Read fund literature for further information.
  • Integrates ESG factors into all/most fund research Find fund management companies that research environmental, social and governance (ESG) issues when deciding whether or not to invest in a company. This typically applies to all funds, not only those which are promoted as being 'ethical' or 'SRI themed'. This is increasingly often used as a risk management tool.
  • Vote all* shares at AGMs/EGMs This fund manager votes or aims to vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' - where fund managers consider - and express their views on - the key business issues effecting the companies they part own. (*Allowance is made for exceptional situations such as when shares are in the process of being sold.)
  • In house responsible ownership/voting expertise Find fund / fund management companies where there is in-house expertise that enables the fund manager to make their own decisions on issues such as shareholder voting, setting of in-house guidelines - for example - particularly with regard to environmental, social and governance (ESG) issues.
  • Responsible Ownership/ESG a key differentiator The fund managers have said they consider this area to be a key differentiator for their business
  • UK Stewardship Code signatory Find fund managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where fund managers are encouraged to behave as responsible 'company owners'.
  • Publish Responsible Ownership/Stewardship report Find fund management companies that publish information on their approach to responsible investment ownership - also known as 'Stewardship' - following the introduction of 'the Stewardship Code'. This sets out their approach to voting, dialogue with company management and any related activity. This is publicly available.
  • Publish full voting record Find fund management companies that publishes a full record of how they vote at AGMs and EGMs. This information is publicly available.
  • Review(ing) carbon/fossil fuel exposure for all funds Find funds / fund managers that are reviewing or have reviewed their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. This work is being carried out in the context of climate change related concerns, and may often reference international agreements.
  • Regularly lead collaborative ESG initiatives Find funds managed by fund management companies that regularly initiate or help run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
  • PRI signatory Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment' initiative.
  • UKSIF member The fund management company is a member of UKSIF - the UK Sustainable Investment and Finance association
  • Climate Action 100+ or IIGCC member Involved in collaborative institutional investor initiatives that are encouraging companies to address climate change (ie reduce carbon emissions)
  • Encourage board diversity eg gender Fund managers encourage the companies they invest in to have more diverse board structures (eg more women on boards)
  • Encourage responsible corporate taxation Fund management company is working with the companies it invests in to encourage more responsible corporate taxation
  • Encourage carbon / GHG reduction The fund management company is working with the companies it invests in to encourage reductions of carbon dioxide and other greenhouse gas emissions.
  • Employ specialist ESG/SRI/sustainability researchers The fund management company directly employs specialist ESG/SRI/sustainability researchers or analysts
  • Use specialist ESG/SRI/sustainability research companies The company makes use of expert external research
  • In house carbon/GHG reduction policy The fund management company is working to reduce its own carbon/greenhouse gas emissions.
  • Full SRI policy information on company website All information that relates to the filter options that the fund manager has selected on this fund can be found on their company website

SRI / Ethical Policy

Aberdeen Responsible UK Fund has 6 negative screens on the portfolio:


1.      Alcoholic Beverages

2.      Gambling

3.      Military involvement

4.      Pornography

5.      Tobacco

6.      Weapons


Resources, Affiliations & Corporate Strategies


Aberdeen has its own in house ESG team which undertakes ESG integration on all of our funds. For our SRI  / screened funds, we oversee the implementation of the screens for each fund, according to their particular screening requirements and parameters.  


Please Note

Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

Please note that the information in this document may be subject to change. This document, in part, describes some of the procedures and systems of internal management and control of Aberdeen Asset Managers Limited (AAML) that were in place at the time of writing. These are constantly under review, and therefore future systems of management and control within AAML may differ from those set out in this document. Opinions rendered on any particular economic scenario are solely opinions and are not meant to be construed as fact. Consequently, although this document is provided in good faith, it is not intended to create any legal liability on the part of AAML, and does not in any way vary the terms of any relevant investment management agreement. The statements contained in this paragraph do not affect AAML's obligation to its customers under the rules of the Financial Conduct Authority in the UK.

The past performance is not an indication of future results. The value of investments and the income from them can go down as well as up and investors may get back less than the amount invested.

Issued by Aberdeen Asset Managers Limited. Registered in Scotland. No SC108419. Registered Office: 10 Queen's Terrace, Aberdeen AB10 1YG. Authorised and regulated by the Financial Conduct Authority in the United Kingdom.



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