As a responsible investor, AkademikerPension sets high standards for how external asset managers handle sustainability, active ownership and responsible investments.
We therefore have a strict assessment process to systematically ensure that the managers we work with meet our standards – both in terms of investment expertise and consideration for climate, human rights and social responsibility.
Our assessment of asset managers is done, among other things, through an ESG rating on a scale from A to C, where C is the lowest rating. Asset managers who do not meet our requirements and thus receive the low C rating will not be selected as a rule – and existing managers may risk losing their mandate if they do not improve. The rating is carried out by the ESG team in collaboration with the investment teams, but it is the ESG team that ultimately recommends the rating for approval by the Responsibility Committee.
Not meeting expectations
As a consequence of this approach, we have decided to terminate our relationship with State Street Global Advisors. The decision is primarily driven by our new equity strategy, but we also assess that State Street’s changed approach to active ownership and responsible investing no longer meets our expectations.
“We have quite high standards for sustainability and responsibility in our investments, and our asset managers do not have to think exactly like us, as these are of course complex issues and there may be different paths to achieve the same goal. But they must be in line with our fundamental approach and the way we see the world,” says Anders Schelde, Investment Director at AkademikerPension.
In February, AkademikerPension published a position paper on the assessment of external asset managers, in which we describe our approach and the requirements we place on our partners. Here you can read more about our method and the criteria we use in the assessment of asset managers. The position paper can be found on our website:
https://akademikerpension.dk/media/zo3m10ab/standpunkt-om-krav-til-kapitalforvaltere.pdf
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