Sussexes ethical investors pump funds into firms that are also producing jabs

THE ethical investment company backed by the Duke and Duchess of Sussex has ploughed millions of pounds into pharmaceutical companies that develop Covid jabs – despite previous calls from the couple for vaccine makers to share their secrets.

The couple, who have campaigned publicly for vaccine equity and lobbied pharmaceutical companies to waive patents for the developing world, are now “impact partners” with Ethic, a US fintech asset manager which promises to invest clients’ money in companies “that treat people and the planet with respect”.

Its most recent filings show it has invested in shares of Facebook, Amazon and Apple – and Astrazeneca, Novartis, Pfizer and Johnson & Johnson.

The Duke and Duchess invested in Ethic during a funding round this year.

They also have their own investment portfolio managed by the firm. They made their involvement public on Tuesday, saying: “This is one of the ways we put our values in action.”

Yesterday, a spokesman for Ethic confirmed the Sussexes would be working on “content and events that help educate our broader community around important issues”. The Duke and Duchess have previously lobbied for issues including vaccine equity, appearing at a New York rally last month where the Duke criticised “ultra-wealthy pharmaceutical companies” for “not sharing the recipes” to make vaccines for the developing world.

Announcing their new “impact partners”, the co-founders of Ethic said the Duke and Duchess “share a lot of values with us”, with their involvement allowing their vision to “reach many millions around the globe”. Ethic has $1.3billion (£950 million) in assets under management, and will not disclose its financial arrangements with the Sussexes.

The couple’s role as “impact partners” is understood to be separate from their personal investments.

A spokesman said the asset management company invites clients to create their own portfolios that reflect their “unique values and financial priorities”.

In theory, investing their own money through Ethic could mean the Sussexes owning stakes in social media giants and pharmaceutical companies they have previously denounced, but the set-up does allow investors to opt out of owning certain companies. The couple are said to hope that their involvement in Ethic “would help democratise investing, making people – especially younger people – more deliberate in their choices and conscious of investing in sustainable companies”.

A spokesman for Ethic said pharmaceutical companies would appear in some client portfolios, depending on the issues they had chosen to prioritise.

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