Carbon report SEB Swedish Value
|
|
- Holly Harvey
- 5 years ago
- Views:
Transcription
1 Carbon report SEB Swedish Value Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive and indirect emissions, e.g. from suppliers, are based on reported data or estimates of emissions. The metric says nothing about how the portfolio contributes to a low-carbon society. For further information about the metric, see
2 Contents Executive Summary 3 Sector weighthing and relative carbon footprint 4 Relative Carbon Footprint Comparison 4 Sector Analysis & Stock selection 4 Attribution Analysis 5 Summary of 1 largest absolute contributors 6 Summary of 1 largest portfolio companies 6 Scope 3 overview 7 Company sector & breakdown 8-9 Carbon Barometer & Carbon Ranking 1 Carbon Report - SEB Swedish Value 2
3 Carbon Report SEB Swedish Value Report created on: Feb 27, 218 Holdings Date: Dec 31, 217 : SIX Return Index Currency: SEK Industry Classification: GICS Company Breakdown Metrics: carbon intensity (tco2e / Mio. revenue) Value: 3'678'589'18. SEK Fund Management Company: SEB Investment Management AB Executive Summary Carbon emissions Scope 1-2 Total carbon emissions incl. Scope 3 Relative Carbon Footprint (kgco2e / SEK 1' invested) Carbon Intensity (kgco2e / SEK 1' revenue) Weighted Average Carbon Intensity (kgco2e / SEK 1' revenue) Disclosing Titles by Weight (market value) 18' ' % 95.1% 17' ' % 95.3% Total carbon emissions - measure the carbon footprint of a portfolio considering Scope 1-2 as well as Scope 3 emissions. *) - SEB Swedish Value is associated with greenhouse gas emissions of 18'53.2 tons per year. Relative carbon footprint - is a normalized measure of the portfolio's contribution. - It enables comparisons with a benchmark between multiple portfolios, over time and regardless of portfolio size. Carbon intensity - allows investors to measure how much carbon emissions per SEK of revenue are generated. - It therefore measures the carbon efficiency of a portfolio per unit of output. This report analyses the portfolio of securities in terms of the carbon emissions and other carbon related characteristics of the underlying portfolio companies, and compares this data to the performance of a relevant respectively chosen market benchmark. The portfolio s intensity is 5.1% higher than the benchmark The Sectors Materials, Industrials and Consumer Discretionary (per GICS classification) in the portfolio make up 53.6% of the weight vs. 95.% of the contribution to emissions. 46.4% Sector Weight 4.3% 2.9% 39.7% Contribution to 14.1% 5.% Materials Industrials Consumer Discretionary All other Sectors. Carbon Intensity Carbon 9.6% 78.% 5 smallest contributors to the emissions of the fund are: emissions % of total Relative carbon footprint (kg CO2e / SEK 1' Invested) Investor B.1.%. Swedbank A 1.8.%. Loomis B 3..%. SEB A 3.3.%. Nordax Group 3.4.%.1 5 largest contributors to the emissions of the fund are: emissions % of total Relative carbon footprint (kg CO2e / SEK 1' Invested) Ahlstr m-munksj EUR 12' % SCA B 1' % 49.5 Skanska B % 5.7 ABB (SEK) % 3. Husqvarna B % 3.2 *) Scope 1 emissions are directly generated by company's operations, whereas indirect Scope 2 emissions are related to the company's energy consumption. Scope 3 emissions include other indirect emissions including e.g. business travel, use of company's products sold, investments, and goods and services purchased. Carbon Report - SEB Swedish Value 3
4 Sector weighting and relative carbon footprint Weight Rel. Carbon Footprint tco2e / Mio SEK invested vs. Materials 4.31% 4.36% % Industrials 39.7% 3.6% % Consumer Discretionary 9.6% 11.18% % Others 5.95% 4.5% % Telecommunication Services 3.25% 4.26% % Information Technology 3.1% 6.34% % Health Care 2.6% 4.31% % Financials 27.16% 25.97% % Relative Carbon Footprint Comparison Materials Industrials Consumer Discretionary Others Telecommunication Services Information Technology Health Care Financials Sector Analysis & Stock Selection The graph below shows how the carbon allocation in the portfolio differs from the average of each sector. Sectors have been defined using the GICS classification at the Supersector/Industry Group level. 7% 6% 5% 4% 3% 2% 1% % Casinos & Gaming Construction & Engineering Construction Machinery & Heavy Trucks Diversified Banks Diversified Support Services Electrical Components & Equipment Forest Products Industrial Machinery Integrated Telecommunication Services Multi-Sector Holdings Others Paper Packaging Paper Products Research & Consulting Services Security & Alarm Services GICS Sub-Industry, Average GICS Sub-Industry 4
5 Attribution Analysis The two principal reasons why the carbon exposure of the portfolio may differ from the benchmark are due to sector allocation as well as stock selection decisions. Sector allocation decision will cause the carbon intensity of the portfolio to diverge from the benchmark where the sectors are either carbon intensive or low carbon. If the portfolio is overweight in carbon intensive sectors the portfolio is likely to be more carbon intensive than the benchmark. However, if the stocks within a carbon intensive sector are the most carbon efficient companies, it is possible that the portfolio may still have a lower carbon footprint than the benchmark. Sector Allocation Sector Selection Sector Allocation Contribution to Out/ Underperformance Sector Allocation Contribution to Out/ Underperformance (%) Stock Selection Contribution to Out/ Underperformance Stock Selection Contribution to Out/ Underperformance (%) Energy % % Materials % % Industrials % % Consumer Discretionary % % Consumer Staples % % Health Care % % Financials 8.6.4% % Information Technology % % Telecommunication Services % % Utilities -. -.% -. -.% Others 6.4.3% 5.4.2% Total % % Explanation: The Outperformance of the portfolio is based on the effect of over/underweighting certain sectors and selecting more/less carbon intense stocks within each sector for each of the underlying holdings. A positive number indicates that the effect increased the greenhouse gas emission (in tons of CO2e) and a negative number indicated a decreasing effect. In this case, the sector weighting of SEB Swedish Value harmed 49.2 tco2e, while the stock selection saved tco2e versus the benchmark. This explains a 17.4% underperformance through sector weighting and 31.2% carbon outperformance by stock picking. Interaction Effect: % Total 18' '885.5 Carbon Outperformance Carbon Outperformance (%) 21.2 Attribution Analysis - Graph 2% 1% % -1% -2% -3% Energy Materials Industrials Consumer Discretionary Consumer Staples Health Care Financials Information Technology Telecommunication Services Utilities Others Sector Stock Total 5
6 Summary of 1 largest absolute contributors The tables below show the 1 largest greenhouse gas contributors and the 1 largest holdings respectively of the SEB Swedish Value. Carbon Data section explains your, i.e. the amount of greenhouse gases that the portfolio finances from the company s overall emissions, relative to company ownership. You can further see what % of the overall portfolio GHG emissions each company accounts for and if the company s GHG emission number was disclosed by the company or approximated. In the Analysis section, the emissions are stated and the Average Sector allow a comparison of the greenhouse gas intensity of a company against its respective sector, i.e. the amount of GHG emissions that an investment of the same size would have financed, would it have been invested in the overall sector rather than the specific company. The effect on the portfolio can be found under Contribution: This is a measurement of how much a specific holding raises or reduces the carbon footprint of the portfolio. Company GICS Sub-Industry % of total Ahlstr m-munksj EUR Weight Carbon Data Analysis carbon intensity (tco2e / Mio. revenue) Av. Sector Contribution Paper Products 2.3%.% 69.6% ' ' ' SCA B Forest Products.6%.9% 6.8% ' ' '83.78 Skanska B ABB (SEK) Construction & Engineering Electrical Components & Equipment 3.4% 1.1% 4.3% ' % 1.8% 3.% Husqvarna B Household Appliances 3.8%.7% 2.7% Balder Fastighets Others 2.7%.6% 2.2% Volvo B Construction Machinery & Heavy Trucks 8.7% 4.8% 2.1% '813. 1' Trelleborg B Industrial Machinery 2.7%.8% 1.8% Billerud Paper Packaging 1.4%.4% 1.6% ' Telia Company Integrated Telecommunication Services 3.2% 2.4% 1.3% Summary of 1 largest portfolio companies Company GICS Sub-Industry % of total Volvo B Construction Machinery & Heavy Trucks Weight Carbon Data Analysis carbon intensity (tco2e / Mio. revenue) Av. Sector Contribution 8.7% 4.8% 2.1% '813. 1' Investor B Multi-Sector Holdings 8.5% 4.3%.% '362. 1' Atlas Copco A Industrial Machinery 6.6% 6.5%.6% ' ' Swedbank A Diversified Banks 5.5% 3.3%.% ' Nordea Diversified Banks 5.3% 6.%.1% '62.16 ABB (SEK) F B Electrical Components & Equipment Research & Consulting Services 4.6% 1.8% 3.% %.2%.2% Danske Bank Ord Diversified Banks 3.9% -.1% Husqvarna B Household Appliances 3.8%.7% 2.7% Kindred Group Casinos & Gaming 3.6%.4%.1%
7 Scope 3 Overview The following section provides a top-down approximation of the financed scope 3 emissions from each sector. The purpose of this analysis is to give an order of magnitude of the emissions in the portfolio on a sector level and should not be used as a basis for comparing two individual companies. All emissions are in tco2e metrics. The following graph shows the financed Scope 1+2 emissions in relation to the Scope 3 emissions of the portfolio. 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % Energy Materials Industrials Consumer Discretionary Consumer Staples Health Care Financials InformationTelecommunication Utilities Technology Services Scope 3 Scope 1&2 18'172 14'46 6'367 2'64 2' The graph below compares the total emissions (including Scope 1, Scope 2 and Scope 3) between portfolio and benchmark Scope 3 Scope 1&2 28'324 18'85 39'379 17'567 *) The methodology includes Scope 1, 2 and Scope 3 upstream and product use downstream. 7
8 Company Sector & Breakdown This table presents all holdings in the portfolio, sorted by sector, following the logic from the sections above. It shows how each company contributes to the overall portfolio footprint. It allows you to see which stocks are the greatest contributors to the portfolio s emission in absolute as well as relative terms. The -/+ signs on the far right indicate if a specific holding raises or reduces the carbon footprint of the portfolio. This helps with portfolio optimization and in managing the overall carbon portfolio footprint without comprising the chosen sector allocation. Weight Carbon Data Analysis Company % of total carbon intensity (tco2e / Mio. revenue) Av. Sector Contribution Paper Packaging 1.4%.4% 1.6% ' Billerud 1.4%.4% 1.6% ' Forest Products.6%.9% 6.8% ' ' ' SCA B.6%.9% 6.8% ' ' '83.8 Paper Products 2.3%.8% 69.6% ' ' ' Ahlstr m-munksj EUR 2.3%.% 69.6% ' ' '111.3 Construction & Engineering 3.4% 2.1% 4.3% ' Skanska B 3.4% 1.1% 4.3% ' Electrical Components & Equipment 4.6% 2.% 3.% ABB (SEK) 4.6% 1.8% 3.% Construction Machinery & Heavy Trucks 8.7% 5.% 2.1% '813. 1' Volvo B 8.7% 4.8% 2.1% '813. 1'457.8 Industrial Machinery 1.3% 12.9% 2.9% '94.5 1' Trelleborg B 2.7%.8% 1.8% Sandvik 1.% 2.7%.5% Atlas Copco A 6.6% 6.5%.6% ' '282.2 Diversified Support Services 3.3%.9%.3% ' Intrum Justitia 3.3%.6%.3% ' Security & Alarm Services 4.9% 1.2% 1.3% Securitas B 2.3%.8% 1.2% Loomis B 2.6%.4%.% Research & Consulting Services 4.4%.2%.2% F B 4.4%.2%.2% Household Appliances 3.8% 1.9% 2.7% Husqvarna B 3.8%.7% 2.7% Casinos & Gaming 3.6%.9%.1% Kindred Group 3.6%.4%.1% Apparel Retail 2.2% 4.2%.2% Hennes & Mauritz B 2.2% 4.2%.2% Pharmaceuticals 2.1% 1.3%.4% Astrazeneca SEK 2.1% 1.1%.4% Diversified Banks 18.7% 16.%.3% ' Danske Bank Ord 3.9% -.1% SEB A 3.2% 3.2%.% Swedbank A 5.5% 3.3%.% '131.9 Nordea 5.3% 6.%.1% '62.2 Nordax Group.8%.1%.% Multi-Sector Holdings 8.5% 9.%.% '362. 1' Investor B 8.5% 4.3%.% '362. 1'816.7 Electronic Equipment & Instruments 2.3% 2.5%.4% Hexagon B 1.8% 2.2%.3% Mycronic.5%.1%.1% Technology Distributors.8%.1%.2% Lagercrantz B.8%.1%.2% Integrated Telecommunication Services 3.2% 2.4% 1.3% Telia Company 3.2% 2.4% 1.3%
9 Weight Carbon Data Analysis Company % of total carbon intensity (tco2e / Mio. revenue) Av. Sector Contribution Others 5.9% 4.% 2.4% Castellum 3.3%.6%.2% Balder Fastighets 2.7%.6% 2.2% Total portfolio 95.1% 95.3% 1.% ' '45.6. Note that the weighting for the benchmark will not always total 1% as the stocks shown are only for those held by the portfolio. 9
10 Carbon Ranking This is a standardized ranking of the fund based on the productís weighted average carbon intensity using two peergroups. One consisting of all other funds in the database (global percentile) and one where the fund is ranked taking the specific Lipper Global Classification into account (peer percentile). The ranking is based on percentiles and ranges from (worst) to 1 (best). Global Percentile 94 (n=438) Peer Percentile 53 (Lipper Global Equity Sweden, n=51) The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive and indirect emissions, e.g. from suppliers, are based on reported data or estimates of emissions. The metric says nothing about how the portfolio contributes to a low-carbon society. For further information about the metric, see 1
Carbon report SEB Hållbarhetsfond Sverige
Carbon report SEB Hållbarhetsfond Sverige Report created on: February 26, 2018 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity portfolio.
More informationCarbon report SEB Hållbarhetsfond Sverige
Carbon report SEB Hållbarhetsfond Sverige Report created on: October 13, 217 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity portfolio.
More informationCarbon report Ethos Aktiefond
Carbon report Ethos Aktiefond Report created on: February 26, 2018 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity portfolio. The calculations
More informationCarbon report SEB Sverigefond
Carbon report SEB Sverigefond Report created on: February 26, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive
More informationCarbon report SEB WWF Nordenfond
Carbon report SEB WWF Nordenfond Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive
More informationCarbon report SEB Sverigefond Småbolag
Carbon report SEB Sverigefond Småbolag Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are
More informationCarbon report SEB Sverige Expanderad
Carbon report SEB Sverige Expanderad Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not
More informationCarbon report SEB Nordic Focus Fund
Carbon report SEB Nordic Focus Fund Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not
More informationCarbon report SEB Hållbarhetsfond Sverige Index
Carbon report SEB Hållbarhetsfond Sverige Index Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations
More informationCarbon report SEB Nordenfond
Carbon report SEB Nordenfond Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive
More informationCarbon report SEB Sverigefond Småbolag ChansRisk
Carbon report SEB Sverigefond Småbolag ChansRisk Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations
More informationCarbon report SEB Norway Focus Fund
Carbon report SEB Norway Focus Fund Report created on: February 27, 218 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not
More informationCarbon report SEB US All Cap
Carbon report SEB US All Cap Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive
More informationCarbon report SEB Nordamerikafond Små och Medelstora Bolag
Carbon report SEB Nordamerikafond Små och Medelstora Bolag Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund.
More informationCarbon Report. SEB Technology Fund. Report created on: Feb 25, 2019
Carbon Report SEB Technology Fund Report created on: Feb 25, 2019 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund The calculations are not comprehensive
More informationCarbon report SEB Nordamerikafond Småbolag
Carbon report SEB Nordamerikafond Småbolag Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations
More informationCarbon report SEB Östeuropafond
Carbon report SEB Östeuropafond Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive
More informationCarbon report SEB Fastighetsfond
Carbon report SEB Fastighetsfond Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity portfolio. The
More informationCarbon report SEB Eastern Europe ex Russia Fund
Carbon report SEB Eastern Europe ex Russia Fund Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity
More informationCarbon Footprint Report
Carbon Footprint Report 0//8 From the Office of the Bishop The Episcopal Diocese Of Olympia 55 0th 55 Tenth Avenue East Seattle, Washington 9802 206-25-4200 telephone 206-25-46 fax 800-488-4978 wa online
More informationCarbon report SEB Hållbarhetsfond Global
Carbon report SEB Hållbarhetsfond Global Report created on: February 26, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are
More informationCarbon Report - Equity, Sample Portfolio
Carbon Report - Equity, Sample Identifier: - Data as of: 23.05.2016 : MSCI World index Currency: USD Industry Classification: ICB Intensity Metrics: Revenue Value: 1'000'000.00 USD Executive Summary Coverage
More informationCarbon report SEB Global Fund
Carbon report SEB Global Fund Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the equity holdings of the fund. The calculations are not comprehensive
More informationCarbon report SEB Sustainability Fund Global
Carbon report SEB Sustainability Fund Global Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity portfolio.
More informationCarbon report SEB Japanfond
Carbon report SEB Japanfond Report created on: February 27, 2018 The carbon footprint provides a historic snapshot of the emissions from the companies that make up the fund s equity portfolio. The calculations
More informationEmissions incl. Scope 3. Portfolio 95.3% 91.6% 5' ' Benchmark 69.4% 98.5% 8' '
Carbon Report - DKB Zukunftsfonds TNL Identifier: LU0314225409 Report created on: Jul 31, 2017 : Equity - MSCI ACWI Index Currency: EUR Industry Classification: ICB Company Breakdown Metrics: relative
More informationishares MSCI Sweden ETF (EWD) Summary Description Historical prices (1 year) DIAMONDS* RATINGS* ETFG RISK RATING 4.62 ETFG REWARD RATING 5.
ishares MSCI Sweden ETF (EWD) Tearsheet as of 7:41 pm, April 26, 2014. Summary RATINGS* DIAMONDS* ETFG RISK RATING 4.62 ETFG REWARD RATING 5.96 Description ishares MSCI Sweden ETF is an exchange-traded
More informationEmissions incl. Scope 3. Portfolio 98.4% 91.8% 3' ' Benchmark 93.7% 99.2% 7' '
Carbon Report - DKB Zukunftsfonds Identifier: - Report created on: Jul 09, 2018 Holdings Date: Jun 30, 2018 : Equity - MSCI Europe Index Currency: EUR Industry Classification: ICB Company Breakdown Metrics:
More informationExecutive and Board Remuneration in Sweden Empirical data, analysis, legislation and vision
Executive and Board Remuneration in Sweden 2012 2016 Empirical data, analysis, legislation and vision Contents 2 Executive and Board Remuneration in Sweden 2012-2016 01 About this report...4 02 Executive
More informationCustom Benchmarking Report Prepared for: Pinnacle Foods Group
Custom Benchmarking Report Prepared for: Peer companies selected:,,,, Reynolds American Inc.,, powered by public responses from CDP 2017 climate change information request brought to you by CDP reporter
More informationReport on Equity Portfolio Carbon Footprint
Report on Equity Portfolio HSBC Global Asset Management 19 th April 2017 This presentation is intended exclusively towards qualified investors in the meaning of Art. 10 para 3, 3bis and 3ter of the Federal
More informationCarbon Footprint Report 2018: OPM - Private Equity Fund
Carbon Footprint Report 2018: OPM - Private Equity Fund ISS-Ethix Climate Solutions http://www.issgovernance.com/esg 2018 ISS-Ethix Table of contents Executive Summary... 4 1. Introduction... 5 2. Key
More informationC1 - Public NZ SUPER FUND CARBON FOOTPRINT 2017
NZ SUPER FUND CARBON FOOTPRINT 2017 The Guardians is committed to reducing exposure to carbon across the whole Fund. We define carbon exposure as a combination of our portfolio s current emissions (emissions
More informationS&P 500 GICS Sector Scorecard (1/26/18) 12-Mo. See the last page for Index % of 500 Price Changes (%)
S&P 500 GICS Sector Scorecard (1/26/18) 12-Mo. See the last page for Index % of 500 Price Changes (%) 5-Year % Chg. disclosure information. Value or Sector 1 Wk. 13 Wks. YTD 2017 5-Yr CAGR Beta Std. Dev.
More informationClimate Impact Assessment of companies listed on Nasdaq Helsinki
Climate Impact Assessment of companies listed on Nasdaq Helsinki Zurich, 6 November 2015 (Updated Version) Contact: Dr. Maximilian Horster South Pole Group Technoparkstrasse 1 8005 Zurich Switzerland +41
More informationPortfolio Carbon Footprint
Portfolio Carbon Footprint San Francisco State University Foundation Tanvi Pradhan Supervised by Dr. Philip King 0 Table of Contents 1. Acknowledgement... 2 2. Introduction... 3 2.1 Greenhouse Gas Protocol...
More informationfor government employees Annual Report Kåpan pensions for gouver nment employees
1 for government employees 2006 Annual Report Kåpan pensions for gouver nment employees 21 2006 at the glance Kåpan Pensioner was named as Sweden s best pension manager at the IPE Awards Ceremony in Paris
More informationCARNEGIE FUND II FONDS COMMUN DE PLACEMENT AUDITED ANNUAL REPORT 31 DECEMBER 2013
FONDS COMMUN DE PLACEMENT AUDITED ANNUAL REPORT 31 DECEMBER 2013 Subscriptions are only valid if made on the basis of the current prospectus accompanied by the latest annual report and the latest semi-annual
More informationHANDELSBANKEN FUNDS. (formerly SVENSKA SELECTION FUND) SOCIETE D INVESTISSEMENT A CAPITAL VARIABLE (SICAV)
HANDELSBANKEN FUNDS (formerly SVENSKA SELECTION FUND) SOCIETE D INVESTISSEMENT A CAPITAL VARIABLE (SICAV) ANNUAL REPORT For the year ended 31 December 2008 Table of Contents SHAREHOLDERS INFORMATION Page
More informationSustainability report 2017 SWEDBANK FÖRSÄKRING AB
Sustainability report 2017 SWEDBANK FÖRSÄKRING AB Table of Content 1. Responsible investment... 3 Sustainable management... 3 Policy... 3 Transparency... 3 Increased awareness... 3 Climate impact... 3
More informationMPI Quantitative Analysis
MPI Quantitative Analysis a Mario H. Aguilar Director, Client Services, EMEA February 2011 Markov Processes International Tel +1 908 608 1558 www.markovprocesses.com ASSET CLASS ANALYSIS NORTH AMERICA
More informationGovernment Employees Pension Fund
1 Government Employees Pension Fund Annual Report 2017 2 Contents 2017 at a glance 3 Board of Directors report 4 Financial statements 13 Five-year summary 14 Income statement 15 Balance sheet 16 Statement
More informationCARBON FOOTPRINTING 101
ISSUE BRIEF CARBON FOOTPRINTING 101 A Practical Guide to Understanding and Applying Carbon Metrics Ken Frankel Manish Shakdwipee Laura Nishikawa, CFA September 2015 SEPTEMBER 2015 EXECUTIVE SUMMARY Climate
More informationIDOG ALPS International Sector Dividend Dogs ETF
ALPS International Sector Dividend Dogs ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Large Cap Competing ETFs: DOL, DOO, FNDF, CIZ, RBIN Related ETF Channels: Developed Markets Ex-U.S., Smart-Beta
More informationPriorNilsson Fonder. Annual Report Genuine Active Management PriorNilsson PNFONDER.SE
PriorNilsson Fonder Annual Report 2016 Genuine Active Management 2016 PriorNilsson PNFONDER.SE -1- Contents Comments from the CEO... 3 PriorNilsson Realinvest... 4 PriorNilsson Sverige Aktiv... 10 PriorNilsson
More informationS-Network International Sector Dividend Dogs Index
S-Network International Sector Dividend Dogs Index Q4 2017 2015 S-Network Global Indexes, 267 Fifth Avenue, New York, NY 10016. Index Rationale Well-Qualified Universe of Index Candidates Captures Stocks
More informationCAPITAL-PROTECTED INVESTMENTS OCTOBER 2014
CAPITAL-PROTECTED INVESTMENTS OCTOBER 2014 Investment offers Capital-protected investments Equity-linked Note Pan Asia Follows the index S&P Pan Asia Low Volatility Index (SEK). Equity-linked Note Europe
More informationDeloitte/SEB CFO Survey Comparison between Nordic and European CFOs
Deloitte/SEB CFO Survey Comparison between and European CFOs The European CFO Survey for Q1 2017 conveys an optimistic outlook among European CFOs. However, CFOs are even more optimistic than their European
More informationExamining the effect of family control on firm value and performance
Examining the effect of family control on firm value and performance Evidence from the OMX60 Authors: Eva Wilhelmsson and Klara Bjurek Supervisor: Martin Holmén NEG300 V14 Project Paper with Discussant
More informationNN Global Sustainable Equity
For professional use only Month ending 31 December 2017 NN Global Sustainable Equity Strategy Brief Portfolio Management Hendrik-Jan Boer Lead Portfolio Manager Experience since: 1990 With firm since:
More informationCARNEGIE INVESTMENT FUND
Société d'investissement à Capital Variable UNAUDITED SEMI-ANNUAL REPORT 30 JUNE 2013 R.C.S. Luxembourg B 158 803 Subscriptions are only valid if made on the basis of the current prospectus accompanied
More informationVINX 30 Index. More information about the Index can be found at
VINX 30 Index The VINX 30 Index is the leading share index of the Nordic Exchanges and the Oslo exchange. The index consists of the 30 largest and most actively traded shares listed on NASDAQ OMX Nordic
More informationGREENHOUSE GAS EMISSIONS: RISKS AND CHALLENGES FOR PORTFOLIOS JANUARY 2016
insightpaper GREENHOUSE GAS EMISSIONS: RISKS AND CHALLENGES FOR PORTFOLIOS JANUARY 2016 The Paris Climate Change Agreement highlights the commitment of countries to address climate change. It reinforces
More informationSOLIDAR SICAV. Société d Investissement à Capital Variable Luxembourg (SICAV)
Société d Investissement à Capital Variable Luxembourg (SICAV) Audited Report for the period from March 22, 2010 (date of incorporation) to December 31, 2010 R.C.S. : Luxembourg B 152.084 Subscriptions
More informationSustainability Report
Sustainability Report This information is provided for financial advisers and their clients and wholesale investors. There is no guarantee investment strategies will be successful. Investment risks include
More informationItem 19. Current terms of employment. The Board s proposed guidelines
Item 19 The Board s proposed resolution on the adoption of principles for remuneration and other terms of employment for the members of the Executive Management Team The remuneration guidelines approved
More informationXT ishares Exponential Technologies ETF
ishares Exponential Technologies ETF ETF.com segment: Equity: Global Technology Competing ETFs: DTEC, IXN, CIBR, IPAY, FINX Related ETF Channels: Multi-factor, Technology, Smart-Beta ETFs, Global, Equity,
More informationGICS system sectors and industries
GICS system sectors and industries In studying the share markets any where around the world, it can be useful to compare companies that are somewhat similar in what they do. That is, for example, to compare
More informationMIND THE GAP. CEO Remuneration and the Scandinavian Corporate Governance Landscape. September, 2017
MIND THE GAP CEO Remuneration and the Scandinavian Corporate Governance Landscape September, 2017 September 2017 1 INTRODUCTION The corporate governance landscape has been changing and executive remuneration
More informationNN European Sustainable Equity
For professional use only Month ending 30 April 2018 NN European Sustainable Equity Strategy Brief Portfolio Management Hendrik-Jan Boer Lead Portfolio Manager Experience since: 1990 With firm since: 1998
More informationCONSENSUS OPERATING EARNINGS for the S&P 500, MidCap 400 and SmallCap 600 Indices, as well as the Sectors in the S&P /02/18
CONSENSUS OPERATING EARNINGS for the S&P 500, MidCap 400 and SmallCap 600 Indices, as well as the Sectors in the S&P 500. 02/02/18 Operating EPS Y/Y % chgs. S&P 500 Sector Q1 Q2 2017 Q3 Q4E Year Q1E Q2E
More information2013 French Equity Based Compensation FAQ
December 17, 2012 Institutional Shareholder Services Inc. Copyright 2012 by ISS www.issgovernance.com ISS' 2013 French Equity Based Compensation Policy FAQ Effective for Meetings on or after Feb. 1, 2013
More informationWDIV SPDR S&P Global Dividend ETF
SPDR S&P Global Dividend ETF ETF.com segment: Equity: Global - High Dividend Yield Competing ETFs: FGD, SDIV, DEW, LVL, FDVV Related ETF Channels: Smart-Beta ETFs, Global, Dividends, Dividend, Equity,
More informationfor government employees Annual report P e n s i o n s f o r g o v e r n m e n t s e m p l o y e e s
for government employees 2005 Annual report P e n s i o n s f o r g o v e r n m e n t s e m p l o y e e s 21 2005 at a glance Assets under management increased by SEK 4,801m to SEK 25,376m. Paid-in premiums
More information2015 French Equity- Based Compensation
2015 French Equity- Based Compensation Frequently Asked Questions Effective for Meetings on or after February 1, 2015 Published March 6, 2015 www.issgovernance.com 2015 ISS Institutional Shareholder Services
More informationGovernment Employees Pension Fund
1 Government Employees Pension Fund Annual Report 2016 2 Contents 2016 at a glance 3 Board of Directors report 4 Financial statements 12 Five-year summary 13 Income statement 14 Balance sheet 15 Statement
More informationSHAREHOLDER RELATIONS DEPARTMENT 300 PHILLIPI ROAD COLUMBUS, OHIO PHONE: FAX: September 30, 2015
SHAREHOLDER RELATIONS DEPARTMENT 300 PHILLIPI ROAD COLUMBUS, OHIO 43228-5311 PHONE: 614-289-6622 FAX: 614.278-6666 Mr. Paul Dickinson Chief Executive Carbon Disclosure Project 40 Bowling Green Lane London,
More informationThe Power of Quality-Meets-Value: Focus on U.S. Mid-Caps
BARROW STREET ADVISORS The Power of Quality-Meets-Value: Focus on U.S. Mid-Caps Equity Research Important Information The performance figures presented in this research involve back-tested data which (a)
More informationThe Benefits of a Carbon Tax Swedish experiences and a focus on developing countries
1 The Benefits of a Carbon Tax Swedish experiences and a focus on developing countries Susanne Åkerfeldt Senior Advisor Ministry of Finance, Sweden susanne.akerfeldt@gov.se +46 8 405 1382; +46 70 681 25
More informationCarbon Counts: Assessing the Carbon Exposure of Canadian Institutional Investment Portfolios
September 21 Carbon Counts: Assessing the Carbon Exposure of Canadian Institutional Investment Portfolios A report commissioned by WWF Canada Contents 1. Executive summary 1 Overview 2 Overview of the
More informationJHMC John Hancock Multifactor Consumer Discretionary ETF
John Hancock Multifactor Consumer Discretionary ETF ETF.com segment: Equity: U.S. Consumer Cyclicals Competing ETFs: FXD, CNDF, XLY, VCR, IYC Related ETF Channels: North America, U.S., Smart-Beta ETFs,
More information# of Equities in Industry
# of Equities in Industry Name ERLANGER SECTOR _ INDUSTRY WEEKLY OVERVIEW As Of 03/11/2010 Sectors - Industries Sorted By Power ing Within Sector Weekly 3/11/10 3/4/10 2/25/10 2/18/10 2/11/10 2/4/10 1/28/10
More informationRoyce Opportunity Fund IMPACT AND ATTRIBUTION REPORT INVESTMENT CLASS
FINANCIAL PROFESSIONALS ONLY Royce Opportunity Fund IMPACT AND ATTRIBUTION REPORT INVESTMENT CLASS December 31, 2017 Royce Opportunity Fund IMPACT AND ATTRIBUTION REPORT 2 Performance Performance and Expenses
More informationValuation: S&P 500 Sectors & Industries Forward P/Es
Valuation: S&P Sectors & Industries Forward P/Es July 27, 16 Dr. Edward Yardeni 16-972-7683 eyardeni@ Joe Abbott 732-497-6 jabbott@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog.
More informationHARMONIZED COLLECTIVE INVESTMENT UNDERTAKING DOVRE INSIDE NORDIC MANAGED BY DOVRE FORVALTNING UAB
HARMONIZED COLLECTIVE INVESTMENT UNDERTAKING DOVRE INSIDE NORDIC MANAGED BY DOVRE FORVALTNING UAB Independent Auditor's Report and financial statements for the year ended 31 December 2014 Management company
More informationStock Market Briefing: S&P 500 Sectors & Industries Forward P/Es
Stock Market Briefing: S&P Sectors & Industries Forward P/Es January 17, 18 Dr. Edward Yardeni 16-972-7683 eyardeni@ Joe Abbott 732-497-6 jabbott@ Mali Quintana 48-664-1333 aquintana@ Please visit our
More informationEmergency Preparedness: Return on Investment Methodology. Emergency Preparedness and Support Response Division (OSE)
Emergency Preparedness: Return on Investment Methodology 2017 Emergency Preparedness and Support Response Division (OSE) Return-On-Investment study Part of the Ready-to-Respond project (DFID): humanitarian
More informationYear-End Report 2018
Year-End Report 218 218 summary Solid performance despite challenging equity markets NAV flat, TSR +4 percent, outperforming Swedish stock market by 8 percentage points Investments in three listed core
More informationVDC Vanguard Consumer Staples ETF
Vanguard Consumer Staples ETF ETF.com segment: Equity: U.S. Consumer Non-cyclicals Competing ETFs: XLP, IYK, FSTA, PSCC, RHS Related ETF Channels: North America, U.S., Broad-based, Vanilla, Consumer non-cyclicals,
More informationSPXE ProShares S&P 500 Ex-Energy ETF
ProShares S&P 500 Ex-Energy ETF ETF.com segment: Equity: U.S. - Large Cap Competing ETFs: SPY, IVV, VOO, IWB, SCHX Related ETF Channels: North America, U.S., Large Cap, Vanilla, Equity, Size and Style,
More informationSustainability Report
Sustainability Report Data as of June 30, 2018 There is no guarantee investment strategies will be successful. Investment risks include loss of principal and fluctuating value. Environmental and social
More informationThe Golub Capital Altman Index
The Golub Capital Altman Index Edward I. Altman Max L. Heine Professor of Finance at the NYU Stern School of Business and a consultant for Golub Capital on this project Robert Benhenni Executive Officer
More informationRoyce Premier Fund IMPACT AND ATTRIBUTION REPORT INVESTMENT CLASS
FINANCIAL PROFESSIONALS ONLY Royce Premier Fund IMPACT AND ATTRIBUTION REPORT INVESTMENT CLASS March 31, 2018 Royce Premier Fund IMPACT AND ATTRIBUTION REPORT 2 Performance Performance and Expenses (%)
More informationEvaluation of the Pilot Project of Domestic Emissions Trading Scheme
Evaluation of the Pilot Project of Domestic Emissions Trading Scheme 1. General Outline of the Project July 12, 2004 Climate Change Policy Division Global Environment Bureau Ministry of the Environment,
More informationHARMONIZED COLLECTIVE INVESTMENT UNDERTAKING DOVRE INSIDE NORDIC MANAGED BY DOVRE FORVALTNING UAB Financial statements for the period from 1st of
HARMONIZED COLLECTIVE INVESTMENT UNDERTAKING DOVRE INSIDE NORDIC MANAGED BY DOVRE FORVALTNING UAB Financial statements for the period from 1st of January 2017 to 30th of June 2017 I. GENERAL INFORMATION
More informationQUAL ishares Edge MSCI U.S.A. Quality Factor ETF
ishares Edge MSCI U.S.A. Quality Factor ETF ETF.com segment: Equity: U.S. - Total Market Competing ETFs: DGRO, MOAT, PKW, FNDB, RYJ Related ETF Channels: North America, Smart-Beta ETFs, Total Market, U.S.,
More informationEQWS Invesco Russell 2000 Equal Weight ETF
Invesco Russell 2000 Equal Weight ETF ETF.com segment: Equity: U.S. - Small Cap Competing ETFs: EWSC, IWM, IJR, VB, SCHA Related ETF Channels: North America, Equal-Weighted, Smart-Beta ETFs, U.S., Broad-based,
More informationXRT SPDR S&P Retail ETF
SPDR S&P Retail ETF ETF.com segment: Equity: U.S. Retail Competing ETFs: PMR, FTXD Related ETF Channels: Sectors, U.S., Smart-Beta ETFs, Equity, Equal-Weighted, Retail, North America, Consumer Discretionary,
More informationJohan Forssell Vice President and Head of Core Holdings
Johan Forssell Vice President and Head of Core Holdings Our Core Holdings Healthcare Technology Engineering Financial Services 1 Major transactions (> 1 billion SEK) 2001 + Ericsson 2002 + ABB 2003 + ABB
More informationFTXR First Trust Nasdaq Transportation ETF
First Trust Nasdaq Transportation ETF ETF.com segment: Equity: U.S. Transportation Competing ETFs: IYT, XTN, XKST Related ETF Channels: North America, Smart-Beta ETFs, Multi-factor, Transportation, U.S.,
More informationSPYV SPDR Portfolio S&P 500 Value ETF
SPDR Portfolio S&P 500 Value ETF ETF.com segment: Equity: U.S. - Large Cap Value Competing ETFs: IVE, VOOV, RPV, DVP, FVAL Related ETF Channels: North America, Smart-Beta ETFs, Large Cap, U.S., S&P 500
More informationCAPITAL-PROTECTED INVESTMENTS
CAPITAL-PROTECTED INVESTMENTS MAY 2014 Investment offers Capital-protected investments Issue price Nominal amount Participation Rate Term Equity-linked Note Southern Europe Follows the stock markets in
More informationFXD First Trust Consumer Discretionary AlphaDEX Fund
First Trust Consumer Discretionary AlphaDEX Fund ETF.com segment: Equity: U.S. Consumer Cyclicals Competing ETFs: JHMC, CNDF, XLY, VCR, IYC Related ETF Channels: Equity, Broad-based, Multi-factor, Consumer
More informationDBEU Xtrackers MSCI Europe Hedged Equity ETF
Xtrackers MSCI Europe Hedged Equity ETF ETF.com segment: Equity: Developed Europe - Total Market Competing ETFs: HEZU, DBEZ, FLEH, HFXE, DEZU Related ETF Channels: Developed Europe, Total Market, Currency
More informationPERFORMANCE UDPATE. Fig.1.1. Equity Sector Index Families. US Sector S&P 500 [Select Sector SPDR S&P [Sector Indices] Europe Sector
CONTACT PERFORMANCE UDPATE For more information, contact Henry Cobbe, CFA Head of Research henry@elstonconsulting.co.uk Emma Cole Associate emma@elstonconsulting.co.uk Scope focuses on ETFs listed on the
More informationRORE Hartford Multifactor REIT ETF
Hartford Multifactor REIT ETF ETF.com segment: Equity: U.S. Real Estate Competing ETFs: KBWY, VNQ, SCHH, IYR, XLRE Related ETF Channels: Sectors, U.S., Real Estate, Smart-Beta ETFs, Equity, Multi-factor,
More informationStock Market Briefing: S&P 500 Sectors & Industries Forward Profit Margins
Stock Market Briefing: S&P Sectors & Industries Forward Profit Margins February 1, 1 Dr. Edward Yardeni 1-97-73 eyardeni@ Joe Abbott 73-97-3 jabbott@ Mali Quintana --1333 aquintana@" Please visit our sites
More informationEquity Investing T. ROWE PRICE S GLOBAL STOCK FUND
FUND SPOTLIGHT November 2017 In-depth analysis and insights to inform your decision-making. Equity Investing T. ROWE PRICE S GLOBAL STOCK FUND David Eiswert Portfolio Manager, Global Stock Fund EXECUTIVE
More informationTHE STATE OF CLIMATE CHANGE RISK MANAGEMENT BY INSTITUTIONAL INVESTORS
FROM MSCI ESG RESEARCH LLC THE STATE OF CLIMATE CHANGE RISK MANAGEMENT BY INSTITUTIONAL INVESTORS Current Status and Future Trends Short Version* July 2017 Manish Shakdwipee *The full version of this report
More informationSEMI-ANNUAL REPORT. a n n e b o f o n d e r
l a n n e b o f o n d e r SEMI-ANNUAL REPORT 2016 FOTO: ISTOCKPHOTO Lannebo Mixfond... 3 7 Lannebo Pension... 8 10 Lannebo Småbolag... 11 14 Lannebo Småbolag Select...15 19 Lannebo Sverige...20 23 Lannebo
More information