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26th January 2015

TAM Ethical launches 'Ethical ISA' offer

Company promises to waive annual 0.4 per cent annual management fee.

Savers wishing to place their money in a bank that will shield their investments from controversial industries such as fossil fuels and tobacco have a growing number of places to turn.

However, this month TAM Ethical has launched a new offer to attract more people to green investments by launching a dedicated Ethical ISA for customers with a minimum of £10,000. The new TAM Ethical ISA option will waive the annual 0.4 per cent annual management charge to anyone signing up this year.

A spokeswoman told BusinessGreen the estimated return on investments is dependent on the financial markets but it has been "extremely positive" over the past three years. 

TAM promises ethically and socially responsible screening for investors, meaning that it excludes funds that invest in companies which have a negative impact on the environment, society and animal welfare. In addition, customers have the option to donate a percentage of their annual net profits to a charity of their choice. 

"TAM is delighted to present this offer to ethical investors," said TAM chief executive Lester Petch. "As part of our commitment to socially responsible investment, we aim to ensure charges to clients are as competitive as reasonably possible." 

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