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Catella Fondförvaltning’s Sustainability Overview for 2017

Catella Fondförvaltning AB (Catella) currently manages funds with various investment approaches and risk profiles. We offer four types of funds and investment policies: alternative funds, equity funds, fixed-income funds and mixed funds. Our geographical focus and expertise are concentrated in the Nordic region.

What sustainability means to us

Sustainability is business critical and can both offer opportunities or pose risks, with intensifying global awareness of worldwide challenges and increased customer mindfulness. Catella became a signatory to the UN Principles for Responsible Investment (PRI) in September 2009 as part of our efforts to be a responsible investor and shareholder. The six principles of the PRI form the foundation of our sustainability efforts, and we believe that a greater focus on sustainability contributes to the performance of our funds by illuminating the risks and opportunities for the companies in our portfolios. This stance is based on both our own values and the wishes of our clients, and has resulted in the integration of environmental, social and governance (ESG) aspects into our management activities.

Sustainable investment

Investment decisions for the funds are based on corporate analysis conducted by the fund managers, seeking out companies that are well positioned for the future and analysing factors such as business models, market positions, opportunities for development and risks. Sustainability factors are assessed alongside financial factors to evaluate each company, and ultimately the potential for its shares. A portfolio company's sustainability profile is assessed based on aspects of both risk and potential.

The holdings and investment universes of the funds (based on the SIX RX and VINX indexes) are screened half yearly based on international norms, conventions and negative criteria. The SIX RX and VINX indexes currently include no companies that are in breach of these norms. If a portfolio company is deemed to violate the above principles the holding will be divested as soon as possible, taking into consideration the interests of the unitholders. This applies to all Catella's actively managed equity funds – including Catella Hedgefond (Catella Sverige Index is exempt from this part) – and their Nordic shareholdings.

Sustainability in ownership

Through its managed funds Catella is a shareholder in many Swedish listed companies, providing the responsibility and opportunity to influence these portfolio companies. We focus our responsibilities and, therefore, our influence on the portfolio companies in which we have a large shareholding because this is where we can do the most good. The purpose of exercising our shareholder rights is to protect the joint interests of our unitholders in matters of ownership, and to contribute to the long-term healthy performance of the portfolio companies and the financial markets. We are working to improve overall transparency and reporting on environmental, social and governance (ESG) issues. READ OUR OWNERSHIP POLICY.

In practice, our ownership efforts include:

  • The company's fund managers engage in ongoing dialogue with the portfolio companies as an integral part of their fundamental analysis regarding the risks associated with ESG at both company and supplier level, as well as encouraging companies to be transparent in this area.
    • We participate selectively in the work of nomination committees, the duties of which include proposing directors and the chairman of the board for election at annual general meetings, and as an ultimate method of influence we can exercise the voting rights of the funds at these meetings. In 2017 we participated in nomination committees for Alcadon, DistIT, BE Group, Note and IAR.
  • We participate selectively in ownership dialogue specifically relating to sustainability.

Sustainability funds and themed funds

During the year, Catella has taken another step in the work on sustainability by re-profiling Catella Reavinstfond as Catella Sverige Aktiv Hållbarhet. The fund has an updated investment profile that includes sustainability in all stages of the investment decisions. The ambition is to actively select companies with sustainability deeply rooted in their business models and to have clear boundaries with regard to investments in ethically challenged sectors.

Resources and commitment to sustainability

Catella's fund managers have a responsibility to comply with Catella's internal guidelines, which include sustainability factors as part of the investment process. Each manager is responsible day to day for monitoring the portfolio companies each fund has invested in. Information about each company is gathered from sources such as research services and the media, and from dialogue with the companies.

During the year all employees in fund management, risk and the sales organisation participated in a basic course on sustainability. With this, Catella has broadly raised the level of knowledge in the company and improved its ability to identify risks and opportunities in sustainability.

Furthermore, the sustainability ambitions of Småbolagsfond and Hedgefond were clarified in terms of boundaries in ethically challenged sectors.

Catella has a contract with Sustainalytics, which provides and conducts corporate-level norm-based screening for the portfolio companies included in our funds. Sustainalytics also provides company analysis for a large part of the SIX RX and VINX indexes, which considers and rates each company's approach and transparency regarding ESG issues and other controversial subjects.

Catella is a member of Swesif and participates in the working group of the Swedish Investment Fund Association for corporate governance and socially responsible investing. Daily checks are carried out by the risk function, which ensures that each fund has invested only in permitted holdings. Sustainability screening is conducted semi-annually.

Our sustainability efforts are documented in an annual report compiled for the UN Principles for Responsible Investment and Catella Fondförvaltning AB's Ownership Policy. All fund holdings are published in annual and half-year reports for each fund.

Would you like to find out more?

Below are the links and contact information for our sustainability work.



Anna Strömberg

Fund manager / Sustainability Manger
Direct: +46 8 614 25 76

Risk information

Investments in fund units are associated with risk. Past performance is no guarantee of future returns. The money invested in a fund can increase and decrease in value and it is not certain that you will get back the full amount invested. No consideration is given to inflation. The Catella Balanserad, Catella Credit Opportunity and Catella Hedgefond funds are special funds under the Swedish Alternative Investment Fund Managers Act (SFS 2013:561) (AIFM). Catella Sverige Aktiv Hållbarhet and Catella Småbolagsfond may use derivatives, and the value of the funds may vary significantly over time. The value of Catella Sverige Index may vary significantly over time. Catella Avkastningsfond may use derivatives and may have a larger proportion of the fund invested in bonds and other debt instruments issued by individual national and local authorities and within the EEA than other investment funds, in accordance with Chapter 5, Article 8 of the Swedish Investment Funds Act (SFS 2004:46). Catella Nordic Long Short Equity and Catella Nordic Corporate Bond Flex may use derivatives and may have a greater proportion of the funds invested in bonds and other debt instruments issued by individual national and local authorities and within the EEA than other investment funds. For more details, complete prospectuses, key investor information, and annual and half-yearly reports, please refer to our website at or phone +46 8 614 25 00.

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