Anything we do must be as conflict free as possible. As a guardian of the pension assets of many individuals and doing our part in the sustainability of the whole pensionsystem, in the capacity of having a statutory mandate and a role in the social security system of the nation, we must guard the interest of our beneficiaries in the best possible way. This philosophy is integrated in all desicionmaking we do, both in direct and indirect investments. (And in anything we do on corporate level actually, our entire strategy)
We must be extremely cost concious, we must know that the companies and managers we invest in are acting in the best interests of our beneficiaries. We care deeply about the culture of our asset managers, the way they manage conflicts of interest, we must have long term focused managers who share our investment beliefs for large extent.
In some strategies ESG is not a relevant consideration for the asset manager in choosing assets to own (Beta products). In these cases we analyse the culture of the firm, the people executing the strategy and the costs involved. (governance)