While I can’t recall the fund, I do recall the world renowned naturalist David Bellamy (of ‘gwapple me gwapenuts’ fame) being an independent consultant to the managers providing expertise.

Conclusion

Some 30 years ago, when I first started talking to ethical portfolio managers you couldn’t help but feel that they were treated as oddities in the asset management industry.

Now, my feelings have changed and these pioneers are the ones who got it right from the start – good due diligence, sound and repeatable processes and above all transparency.

Do the right thing rather than go for the fast buck. On top of that, if you can’t do the right thing, then use your voice as a shareholder to encourage industry to do the right thing.

So, in many respects, nothing has changed over the last 30 years in the world of ethical investment, it is the rest of the asset management industry that is catching up, and the new generation of investors, the centennials, will demand that social responsibility is at the centre of all forms of investment and ultimately will benefit from this.

Perhaps in another 20 years’ time when all companies are run in an ethical, socially responsible manner I will be woken from my afternoon doze, and asked the question ‘Grandad, we learned about ethical funds in history at school today. Why did we need them?’

I will then tell the story and their mouths will fall open in disbelief. I can live in hope.

Fraser Donaldson is insight analyst for funds & DFM at Defaqto