Forget noble ideals. When a ship is sinking, it is a rare person who doesn't adopt the mantra of "every man for himself". It's the same with money. Hence, as economies and markets plummeted in 2008, it became ever more difficult to invest with a clear conscience while also making excellent returns. With energy companies, defence businesses and cigarette makers amongst the best performing companies last year, investors were forced to think twice about their itching consciences. But are ethical funds always a write off in a recession, or could now be the perfect time to rediscover your morals for a slice of significant long-term gains?
Limited choices
At the beginning of 2008, private investors in the UK had the ethical investing bug. In February, research by Co-op Insurance found that 85 per cent of equity ISA investors were considering investing in ethical funds last year, up from 67 per cent the previous year. Twelve months on, the ethically focused Co-op is unlikely to even repeat the research.
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