The PFR Ethical investment solution offers active management of funds across five distinct asset class groups.  Each asset group is populated with active collective funds aimed at meeting the risk/return characteristics of that asset group.  The Solution is managed as a discrete model with asset allocation being tactical.  This means the investment managers use their judgement to determine the appropriate asset weightings for any particular risk grade.  The investment manager aims to achieve superior returns for any given level of risk through active changes to the asset group weightings and by using actively managed funds selected using their own selection process.    Funds are selected primarily from those appearing in the Ethical Investment Research Services (EIRS) Green and Ethical Funds directory (though they can be selected outside of this).   Usual fund due diligence takes place on all funds,  however no judgement is made on on how green or ethical a fund may be.