'Catholic values' at heart of new investment trust
The investment management arm of Catholic Church Insurances has launched an investment trust that reflects Catholic values.
The Catholic Weekly quotes Brian Stieg, business development manager for Catholic Church Insurance Investment Management, who said the Catholic Values Trust had been set up in response to requests from religious orders for a specifically 'Catholic' trust.
"Our investment policies have been designed around the values of Catholic social teaching, and it reflects those values in the things we exclude," he said.
Companies whose activities are inconsistent with the teachings of the Church would not be included in the investment portfolio, Mr Stieg said.
"You would exclude gambling, tobacco, anti-life products, pornography, uranium mining - that's the stock standard."
Armament manufacturers would also be excluded, as would pharmaceutical companies who might be involved in research such as stem cell technology. Mr Stieg said the Catholic Values Trust would invest in companies which operate in a positive, or responsible manner; companies that conduct themselves as good corporate citizens.
"In terms of industries you might be looking at alternative energy - wind generation, for example - or advances in medicine, or technologies that may produce life-saving things," he said.
Companies are carefully screened before being included in the trust to ensure they meet the investment criteria and comply with Catholic values.
Catholic Church Insurances Investment Management