To follow up the divestments’ financial contributions, AP2 developed a method in 2017 to compare the return for MSCI World, excluding and including the divested companies. Of the 79 divested companies, 26 are included/have been included in the MSCI World index. The return contribution from the autumn of 2014 and up to 31 December 2017 after having excluded these companies from the index, has resulted in a positive contribution of 1.06 per cent. The divestments represented 2.1 per cent of MSCI World at the end of the year. A large proportion of the Fund’s divested companies are Chinese, and companies in emerging markets, which are not included in MSCI World. In 2018, the Fund will develop methodologies for other indices.
To follow up the financial contributions of the exclusions, AP2 in 2017 developed a method to compare the return for MSCI World, excluding and including the excluded companies. The return contribution is –0.27 per cent after having excluded a companies due to breach of conventions, which belongs to MSCI World since September 2006. These exclusions correspond on 31 December 2017 to 0.7 per cent of MSCI World and include a total of 18 companies during the period 2006 to 2017.