We can confirm that the portfolios currently do not hold any gun manufacturers directly or through the underlying managers. Some of the underlying managers have small positions in conglomerates (Boeing and Airbus, Rolls Royce and General Electric) that generate a portion of their revenues from defence businesses (e.g. military aircraft and related products), but the majority of revenues generated by these conglomerates are from their better known civilian businesses.
Generate’s Responsible Investment Policy excludes direct and underlying Fund investments into companies involved in: Cluster munitions; Anti-personnel mines; Chemical weapons; Nuclear weapons; Whaling; or Manufacture of tobacco. As part of this policy, we regularly check that the underlying managers do not hold companies in breach of our policy. The policy can be found here for further details.