AMP Capital Sustainable Share Fund has been named ethical investor fund of year in the 2007 Australian Sustainability Awards.

While it did not top performance tables, nor was it assessed to be the ‘deepest green’ fund, the AMP fund scored highly on a weighted average of these factors.

Research firm Lonsec rated the AMP fund above its competitors for its ability to integrate sustainability factors into the investment approach, for its willingness to drive a holistic investment vision based on the sustainability of company activities and for the depth of research the company invested to further its sustainability, among other benefits.

Funds eligible for entry to the award program were those currently rated by Lonsec, which then scored those firms separately and weighted 50 per cent to retrospective performance measures and 50 per cent to point-in-time qualitative observations.