Press release -
“Solid returns for the Church of Sweden in 2015”
Photo: Edvin Hellsing/IKON
The asset management for the Church of Sweden’s national level today reported its financial results for 2015. The annual result was 326 million Swedish kronor, which represents a return of 5.1%. The overall asset management thus outperformed the market for the fourth year in a row.
The asset management for the Church of Sweden’s national level today reported its financial results for 2015. The annual result was 326 million Swedish kronor, which represents a return of 5.1%. The overall asset management thus outperformed the market for the fourth year in a row.
“We are very pleased with the results from recent years. By selecting skilled managers, who also comply with our high sustainability requirements, we have succeeded in building up a strong asset management team that is capable of achieving good returns even in difficult economic times,” says Anders Thorendal, Chief Financial Officer at the Church of Sweden.
As a long-term owner, the ten year result is a key measure for the church. This is reflected in the return requirement, which the Church Council has defined as 3% per annum over a rolling ten-year period, on top of inflation.
”We have exceeded expectations in terms of that indicator. Our capital holdings have grown by 70% over the past decade (in nominal terms), which represents an average annual return of 5.5% in nominal terms or 4.4% in real terms,” adds Anders Thorendal.
The Church of Sweden’s asset management at the national level had assets of 6.8 billion kronor as at 31.12.2015, which have to be managed responsibly. The external managers that have been selected in Sweden and abroad incorporate aspects relating to the environment, human rights and corporate governance into their investment decisions. The portfolio includes a number of companies that are interesting from a sustainability perspective, and the church also refrains from investing in certain industries, such as the extraction of oil, coal and gas, as well as weapons and tobacco. The Church of Sweden, together with its asset managers, tries to influence companies that have deficiencies in terms of their sustainability activities by pursuing constructive dialogue with them. In 2015, new fund investments were made in, among others, the SPP Green Bond Fund and SEB Microfinance III.
Topics
- Economy, Finance
Categories
- anders thorendal
- capital holdings
- church of sweden
- annual result
- asset management
Overview of the Church of Sweden’s asset management, at the national level:
Annual result 2015: 326.3 million kronor
Return 2015: 5.1 % (weighted benchmark index: 2.6 %)
Assets managed as at 31 Dec 2015: 6.8 billion kronor
For more information about the annual result for the 2015 financial year, please contact Anders Thorendal on anders.thorendal@svenskakyrkan.se, tel: +46 (0)18-16 95 88.
The Church of Sweden is the largest religious community in Sweden. The national level of the organisation administers, via external managers, a buffer capital of around 6.8 billion kronor. For ethical and financial reasons, the assets have to be managed in a way that takes human rights and environmental aspects into account.
