Company Profiles

Friends Provident

United Kingdom

This UK company provides health plans, life assurance, pension plans, and investment management services. Friends Provident is a leader in the socially and/or environmentally screened mutual fund market in the UK, managing over 40% of assets invested in this market segment. Although this represents a little under 10% of the company's total assets under management, shareholder activism is a tool that is utilized in almost all of the equity funds managed. Issues addressed include environmental, climate change, and corporate governance. Friends Provident also has a real estate portfolio, and since 2005, has successfully met its commitment to achieving 'Very Good' BREEAM certification (the UK's green building standard) for all new office developments. As a service company, its most significant direct impacts are associated with energy and paper use. Friends Provident has a strong paper purchasing policy in place and is working to reduce its greenhouse gas footprint via renewable energy purchases, improved efficiency from the company car fleet, and energy efficiency initiatives.

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 8/30/07 and may not reflect current opinions or subsequent events.