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Swedfund International AB

PRI reporting framework 2019

You are in Direct - Fixed Income » Fixed income - Engagement

Fixed income - Engagement

FI 14. Engagement overview and coverage

14.1. Indicate the proportion of your fixed income assets on which you engage. Please exclude any engagements carried out solely in your capacity as a shareholder.

Category
Proportion of assets
Corporate (non-financial)

14.2. Indicate your motivations for conducting engagement (Corporate, non-financial fixed income assets)

14.3. Additional information.[OPTIONAL]

We do engage with companies to whom we have provided debt to. Our engagement includes follow up on ESGAPs, audits, technical asssitance and visits to the companies we have financed.
When providing debt through syndications to commercial banks for example the lead arranger is also in the lead of following up requirements with regards to ESG. This can include follow up on ESGAP, monitoring, reporting and audits.
Please see section SG 07 about Swedfund's investment process, the use of ESGAP and audit plans, which also applies for investments in private debt..


FI 15. Engagement method

New selection options have been added to this indicator. Please review your prefilled responses carefully.

15.1. Indicate how you typically engage with issuers as a fixed income investor, or as both a fixed income and listed equity investor. (Please do not include engagements where you are both a bondholder and shareholder but engage as a listed equity investor only.)

Select all that apply
Type of engagement
Corporate (non-financial)
Individual/Internal staff engagements
Collaborative engagements
Service provider engagements

15.2. Indicate how your organisation prioritises engagements with issuers.

Select all that apply
Corporate (non-financial)
Size of holdings
Credit quality of the issuer
Duration of holdings
Quality of transparency on ESG
Specific markets and/or sectors
Specific ESG themes
Issuers in the lowest ranks of ESG benchmarks
Issuers in the highest ranks of ESG benchmarks
Specific issues considered priorities for the investor based on input from clients and beneficiaries
Other

If ‘other’ has been selected, please give a description

Engagement is adjusted in accordance with what was identified in Due diligence and what has been set out in the ESGAP.

15.3. Indicate when your organisation conducts engagements with issuers.

Select all that apply
Corporate (non-financial)
We engage pre-investment.
We engage post-investment.
We engage proactively in anticipation of specific ESG risks and/or opportunities.
We engage in reaction to ESG issues that have already affected the issuer.
We engage prior to ESG-related divestments.
Other, describe

15.4. Indicate what your organisation conducts engagements with issuers on.

Select all that apply
Corporate (non-financial)
We engage on ESG risks and opportunities affecting a specific bond issuer or its issuer.
We engage on ESG risks and opportunities affecting the entire industry or region that the issuer belongs to.
We engage on specific ESG themes across issuers and industries (e.g., human rights).
Other, describe

15.5. Indicate how your organisation ensures that information and insights collected through engagement can feed into the investment decision-making process.

Select all that apply
Corporate (non-financial)
Ensuring regular cross-team meetings and presentations.
Sharing engagement data across platforms that is accessible to ESG and investment teams.
Encouraging ESG and investment teams to join engagement meetings and roadshows.
Delegating some engagement dialogue to portfolio managers/credit analysts.
Involving portfolio managers when defining an engagement programme and developing engagement decisions.
Establishing mechanisms to rebalance portfolio holdings based on levels of interaction and outcomes of engagements.
Considering active ownership as a mechanism to assess potential future investments.
Other, describe
We do not ensure that information and insights collected through engagement can feed into the investment decision-making process.

If ‘other’ has been selected, please give a description

ESG is an integrated part of Due Diligence. Potential deficiences related to ESG issues are followed up in a ESGAP (Environmental Social Governance Action Plan),  which is part of the loan agreement. Monitoring through Swedfund Sustainability Report (a self declaration for the company) is made on an annual basis. Based on the ESGAP and annual monitoring and in depth knowledge about the company (issuer) Swedfund undertakes audits (conducted by its own staff or external consultants) on a regular basis 
Please see section SG 05-06 about RI objectives and progress and Swedfund's Strategic Sustainability Goals.
Please see section SG 07 about Swedfund's investment process, the use of ESGAP and audit plans.
Senior Investment Managers are responsible for the ESG performance and improvements of the investments. 

15.6. Additional information.[OPTIONAL]

ESG is an integrated part of Due Diligence. Potential deficiences related to ESG issues are followed up in a ESGAP (Environmental Social Governance Action Plan),  which is part of the loan agreement. Monitoring through Swedfund Sustainability Report (a self declaration for the company) is made on an annual basis. Based on the ESGAP and annual monitoring and in depth knowledge about the company (issuer) Swedfund undertakes audits (conducted by its own staff or external consultants) on a regular basis 
Please see section SG 05-06 about RI objectives and progress and Swedfund's Strategic Sustainability Goals.
Please see section SG 07 about Swedfund's investment process, the use of ESGAP and audit plans.
Senior Investment Managers are responsible for the ESG performance and improvements of the investments. 


FI 16. Engagement policy disclosure

16.1. Indicate if your publicly available policy documents explicitly refer to fixed income engagement separately from engagements in relation to other asset classes.

16.2. Please attach or provide a URL to your fixed income engagement policy document. [Optional]

16.3. Additional information [OPTIONAL]

Please see section SG. Swedfund has specific ESG requirements and recommendations when doing investments in financial institutions. These are being described in our sustainability policy, see the URL above.  


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