Principles of Responsible Investment 2021 assessment of Storebrand Asset Management

Storebrand ASA has been a signatory of the Principles for Responsible Investment (PRI) since 2006. From 2019 Storebrand Asset Management has been a PRI signatory in its own right. PRI signatories have committed to annual reporting on their responsible investment frameworks and practices. PRI produces assessment reports on each signatory report to provide feedback and support learning and development. What are the feedback and improvement areas for Storebrand Asset Management?

By  Vemund Olsen
ARTICLE · PUBLISHED 16.03.2023
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New reporting framework

In 2021, the PRI introduced a new reporting framework, which means that signatory assessment scores are not comparable to earlier years. Signatories that choose to publish PRI's Assessment Report must also disclose their full Transparency Report to the PRI, which the assessment is based on. These two reports should be read in conjunction, as the Assessment Report only lists score per module and indicator, whereas the Transparency Reports provides full disclosure of the basis for PRI's assessment.

 

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Summary of scores

The following are Storebrand Asset Management's scores for each of the 12 modules we were assessed on, compared to the median score for all PRI signatory respondents to the same module (in parentheses):

Investment and Stewardship Policy: 87% (60%)

Direct – Listed equity – Active quantitative – incorporation: 100% (65%)

Direct – Listed equity – Active fundamental – incorporation: 100% (71%)

Direct – Listed equity – Passive – incorporation: 90 (35%)

Direct – Listed equity – Active quantitative – voting: 84% (61%)

Direct – Listed equity – Active fundamental – voting: 84% (54%)

Direct – Listed equity – Passive – voting: 84% (57%)

Direct – Fixed income – SSA: 86% (50%)

Direct – Fixed income – Corporate: 82% (62%)

Direct – Real estate: 98% (69%)

Indirect – Listed equity – Active: 100% (67%)

Indirect – Private equity: 100% (63%)

 

Gap analysis: Potential areas of improvement

The purpose of the PRI assessment is to enable learning and improvement. To identify potential areas of improvement, we have identified the indicators where we received less than a perfect score and the reason for the score given, in the following document:

 

Historical returns are no guarantee of future returns. Future returns will depend, among other things, on market developments, the manager's skills, the fund's risk profile and management fees. The returns can be negative as a result of price losses. There is risk associated with investments in the fund due to market movements, developments in currency, interest rates, economic conditions, industry- and company-specific conditions. Before investing, customers are advised to familiarize themselves with the fund's key information and prospectus, which contains further information about the fund's characteristics and costs.