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Gjensidigestiftelsen

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

Gjensidigestiftelsen is Norway’s largest financial foundation – established in 2007 as a charitable foundation, before converted into a financial foundation prior to the listing of Gjensidige Forsikring ASA in 2010.

In connection with a partial demutualization and the listing on the Oslo Stock Exchange, the foundation sold 38 percent of its shares in Gjensidige Forsikring ASA for NOK 10.4 billion, but retained the remaining 62 percent.

The dividends earned on the 62 percent stake are re-distributed to insurance policy holders.

The proceeds from the sale of 38 percent stake have been invested in a diversified portfolio managed by Gjensidigestiftelsen’s professional in-house investment team. The financial return earned is fully dedicated to the advancement of the Foundation's program and philanthropic purposes.

The Gjensidige Foundation’s financial objectives are to manage its long-term ownership of Gjensidige, to pass on a share dividend to Gjensidige’s non-life insurance customers, and to deliver market return on its financial assets..

The Foundation’s non-profit objective is to promote health and safety through charitable donations. Such donations are made in accordance with the Foundation’s fundamental values..


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Norway

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

29 FTE

02.4. Additional information. [Optional]

There are 7 people in the investment team.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

Gjensidigestiftelsen owns a little more than 60 % of Gjensidige Forsikring ASA. Gjensidige Forsikring ASA is a Norwegian insurance company with an ESG policy covering their entire operation, however they are not a PRI signatory in their own right. Gjensidige Forsikring published an integrated report for 2019. For more information: https://www.gjensidige.no


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 36.01 10-50% 24.35
Fixed income <10% 2.7 10-50% 15.97
Private equity 0 0 <10% 5.49
Property 0 0 <10% 5.25
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 <10% 7.47
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 <10% 0.05
Inclusive finance 0 0 <10% 0.25
Cash <10% 1.82 0 0
Money market instruments 0 0 0 0
Other (1), specify <10% 0.11 0 0
Other (2), specify 0 0 <10% 0.53

`Other (1)` specified

          Derivatives
        

`Other (2)` specified

          
        

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

When Gjensidigestiftelsen report on asset class mix to executives and the board, we take out the value of our subsidiary and report solely on the values of the investment portfolio. In the picture above, you therefor see the asset class mix in % of AUM with the ownership of Gjensidige Forsikring ASA taken out.


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

91.40 Developed Markets
5.19 Emerging Markets
0.15 Frontier Markets
3.26 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]


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