Changes to our screening criteria that affects our investment strategy must be approved by the board. Changes to our criteria that simply offer a minor change in factors that we screen for is merely changed by the investment team and the individuals responsible for the biannually screening of the portfolio. For larger changes, that still doesn’t affect the investment strategy, there might be an open discussion in the foundation’s investment committee. The investment committee, the CIO and the rest of the investment team will always be informed of all changes made to the criteria immediately. The CIO has the possibility to override changes being made, or to request changes that are not already considered. However, if the CIO’s suggestions, or other proposals, trigger a change in the investment strategy, this must go through the board before taking effect. The board will be notified of changes that doesn’t require a change in the investment strategy when they are presented with the biannually results of the screen.
Managers of the funds we are invested in will be notify of changes in criteria as soon as they take effect. Gjensidigestiftelsen likes to take these changes up in a meeting or a call because this allows the foundation to explain the rational and consequences of the changes more easily.