“Fiduciary duty trumps ethics for weapons investors”

Here’s food for thought if you’re not currently an ethical investor. Many, if not most ‘conventional’ fund managers will, probably quite rightly, aim to make money for investors and would agree that “the weapons industry presents stable cashflows as most weapons-related contracts are with governments…we do not have a moral duty, we have a fiduciary duty”. That’s reflected, I guess, by the fact that shares in BAE Systems, our largest ‘defense’ manufacturer, have risen by almost 30% in the past month, while others have tumbled. Proof, if ever you needed it, that however dark the hour, someone, somewhere, is always making money.

Read more here