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Responsible Investments

BankInvest is working with Responsible Investments

As an asset manager and provider of mutual funds, BankInvest fundamentally believes that companies that create value are those who, in the long run, conduct their business responsibility. BankInvest has an obligation, in corporation with the investors, to take active ownership by spreading the risk in various investments. This is described in our policy for Socially Responsible Investments (SRI).

SRI - or ethical investments - are a difficult area in which the debate quickly can turn into a monochrome world. That is why BankInvest has a structured process to manage SRI in all our portfolios and investment funds.

BankInvest cooperate with the external, ethical "watchdog" GES Investment Services, who monitors and screens - all investments in BankInvest's listed portfolios and investment funds. This is also called norm-based screening and means that investments are being scrutinized for companies that might violate the international standards (e.g. the UN Global Compact) for environmental protection, human rights, labour standards and business ethics.

If a company that BankInvest has invested in violate international norms and conventions and is not willing to remedy the situation after a dialogue, GES can recommend that the company should be excluded from the investment portfolios and funds.

BankInvest also offers investments in SRI versions of selected investment funds and portfolios to investors. The SRI policy means that investors have the possibility to choose specific portfolios that carry out an ethical screening of the companies that BankInvest invests in. These SRI funds are also monitored by GES.

The focus in BankInvest on responsible investments and our SRI policy is also covered by the UN Principles for Responsible Investment (UN PRI), which BankInvest joined in 2008. UN PRI involves relevant information in the investment decision process such as environmental conditions, social and corporate governance. Using the PRI Principles is an on-going process and the work is annually evaluated by the UN PRI organisation and the results are being published. The latest report can be found under PRI Questionnaire.

BankInvest has established a Committee for Responsible Investments (Responsible Investment Committee), which monitors the work of our SRI policy and cooperation with GES. Besides our engagement with UN PRI, BankInvest has joined a number of networks such as Dansif and the CDP (Carbon Disclosure Project).

Responsible Investment Committee
BankInvest's Responsible Investment Committee coordinates the implementation of the guidelines for UN PRI and SRI related matters. In addition, the Committee also has the capabilities to exclude companies from both the SRI and the non-SRI portfolios.

The Committee consists of representatives from BankInvest's: Investment Team, Communication Department, Sales Department, SRI specialists, the Investment Director, and the CEO, who is also the chairman of the Committee.

BankInvest and the UK Stewardship Code
The Financial Reporting Council (FRC) has published the UK Stewardship Code with seven principles, setting out good practice for institutional investors engaging with the UK listed companies in which they invest. BankInvest is complying with the Code by following the 'comply or explain' approach for each principle as set out below.


Principle 1:
Institutional investors should publicly disclose their policy on how they will discharge their stewardship responsibilities.

The BankInvest Responsible Investment Policy gives the guidelines for BankInvest investment activities. The policy is available to clients upon request.

Principle 2:
Institutional investors should have a robust policy on managing conflicts of interest in relation to stewardship and this policy should be publicly disclosed.

The BankInvest Voting Policy clearly states how to avoid potential conflict of interests. The policy is available to clients upon request.

Principle 3:
Institutional investors should monitor their investee companies.

Company visits with management and board members are often an integral part of the investment process at BankInvest prior to investments but also during the investee period.

Principle 4:
Institutional investors should establish clear guidelines on when and how they will escalate their activities as a method of protecting and enhancing shareholder value.

Within the Responsible Investment Policy and Voting Policy there are clear guidelines on how and when to escalate activities in order to protect and enhance shareholder value.

Principle 5:
Institutional investors should be willing to act collectively with other investors where appropriate.

BankInvest acts together with other investors where collaboration is an advantage.

Principle 6:
Institutional investors should have a clear policy on voting and disclosure of voting activity.

BankInvest has a voting policy that is available to clients upon request. The voting activities are not publicly disclosed but are available to clients.

Principle 7:
Institutional investors should report periodically on their stewardship and voting activities.

BankInvest is not reporting publicly on voting activities and other activities related to the companies we invest in. However, the information is available to clients upon request.

Network
BankInvest has joined several networks in continuation of our work with socially responsible investments (SRI).

United Nations Principles for Responsible Investment
United Nations Principles for Responsible Investment were founded in April 2006 at the initiative of the former Secretary-General Kofi Annan. He invited some of the largest institutional investors and asset managers in the world to work together with the UN to develop principles for responsible investments. In February 2008, BankInvest signed the UN Principles for Responsible Investment (UN PRI).

There are six principles in total, all designed to be compatible with the investment styles of investment managers that operate within the traditional framework. The principles apply across BankInvest's investment processes and are not only relevant for socially responsible investment products (SRI).

However, PRI does not point to a number of approaches - such as active ownership and the integrations of environmental, social and corporate governance issues into the investment analysis - that SRI fund managers generally practice. There is a growing awareness among BankInvest investors, consultants and other investment professionals that environmental, social and corporate governance are all dimensions that can affect the performance of the investment portfolios.

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Danish Social Investment Forum (Dansif)
BankInvest is a member of and supports Danish Social Investment Forum (Dansif).

Dansif is a network of investors, consultants and other organisations that work with the fast growing area of socially responsible investments. The membership gives BankInvest access to a wide network of members and to play a role in further shaping and building the Danish market for SRI.

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» Read about Socially Responsible Investments (SRI)

 

 

Last updated: 02.15.2017

GES Investment Services represents institutional investors worldwide.

GES does a so-called norm-based screening of all BankInvest's listed portfolios and funds. This means that all funds are being scrutinized for companies that might violate the international standards for environmental protection, human rights, labour standards and business ethics. 

The companies will be screened on the basis of the so-called norm-based criteria, among the most important are:

- The Universal Declaration of Human Rights by the UN

- The UN Global Compact (ten principles including human rights, environment and anti-corruption)

- OECD Guidelines for Multinational Enterprises

- ILO and their labour conventions

On behalf of BankInvest, GES engages with companies that violate the mentioned norm-based criteria in order to positively influence the companies' behaviour.

A dialogue process can involve a range of measures including a dialogue with the top management of the company, impact on the composition of the board and voting at the annual general meeting.

If the engagement from GES does not help, the company can be excluded from BankInvest's portfolio. This is being decided by BankInvest's Responsible Investment Committee.
In 2008 BankInvest signed the UN Principles for Responsible Investment (UN PRI).

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