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CONCERNS ALLAYED ON ETHICAL POLICY

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The National Association of Pension Funds says it is satisfied a new regulation requiring council funds to disclose...
The National Association of Pension Funds says it is satisfied a new regulation requiring council funds to disclose their policies on socially responsible investment is 'not intended to promote a change in investment policy'.

Local government minister Hilary Armstrong last week announced that from July 2000 council pension schemes will be required to extend their statements of investment principles to cover their policies on socially responsible investment.

The NAPF had been concerned that such a move could see trustees under pressure to amend their investment strategies, which could compromise their overriding fiduciary duty to fund members.
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