The porfolio will invest in companies that make social responsibility a business priority.

Wealthsimple, a global online investment manager, has launched what it calls Socially Responsible Investing portfolios that it says are a first of a kind in the UK.

The portfolios invest in companies that make social responsibility a business priority. Clients gain exposure to funds that take into consideration environmental and societal factors - such as cleantech innovation, fair labour standards and low carbon emissions - while optimising for financial returns. 

And like Wealthsimple's standard portfolios, management fees for SRI portfolios are at 0.5 per cent to 0.7 per cent, and include access to on-demand advice from experienced investment advisors by phone or email. Funds were chosen based on a company's ranking for environmental factors, and social and governance concerns, with the highest-scored companies screened for inclusion in the portfolios. Businesses were excluded if they were manufacturers of products such as tobacco or weapons, or if they were involved in activities deemed not to have a positive social impact.

The launch is part of a wider trend of investment houses seeking to tap investor interest in making money while achieving positive outcomes for society and the environment at the same time. There remains debate on whether it is possible to achieve the same financial result in this way as with traditional approaches to asset allocation. There are now a plethora of terms: "impact investing", envionmental, social and governance (ESG) investing and ethical investing that describe these approaches. Some forms of SRI, for example, simply screen out "bad" investment areas, while others seek out those for their "good" qualities. 

"We always look to our clients for feedback on which features they want to see next, and SRI has been requested from the first day we launched in the UK," said Toby Triebel, chief executive of Europe. "It's reflective of what matters to investors today, and we're really excited to be the first digital wealth manager to introduce an SRI offering, and to make it incredibly simple and accessible."

According to the firm, interest in socially responsible investing has grown tenfold over the last couple of years with over $22 trillion in assets worldwide in SRI funds, with Europe accounting for over half (53 per cent). Wealthsimple has offered SRI portfolios in North America since 2016 and half of all new clients choose to invest in an SRI portfolio.

With over 50,000 clients globally and £1 billion ($1.38 billion) in assets, Wealthsimple's mission is to make access to high quality financial products available globally.