Institution type:
Ownership:
Location:
Country:
Total AUM:
Life & Pension
Private Sector
Hellerup
Denmark
€19,330m
(as at 31/12/22)
Sampension
Updated as at: 31/12/2022
ASSET ALLOCATION
Net investments as at 31/12/20222
MEMBER / SIGNATORY
| PRI | ✓ |
| CDP | ✓ |
| TCFD | ✓ |
COLLABORATIONS
| Climate Action 100+ | ✓ |
| CDP | ✓ |
| PRI Advance | ✓ |
EXCLUSIONS
Conventions & weapons
| International norm violations | |
| International sanctions | ✓ |
| Nuclear weapons | ✓ |
| Anti-personnel mines | ✓ |
| Cluster munitions | ✓ |
| Controversial weapons | ✓ |
| Weapons of mass destruction | ✓ |
| Landmines | ✓ |
Climate & biodiversity
| Coal | ✓ |
| Tar & oils sands | ✓ |
| Fossil fuels | |
| Fur | |
| GMO |
Social
| Human rights | ✓ |
| Tobacco | |
| Alcohol | |
| Pornography |
*disclosure / note
IN BRIEF
Sampension is the provider of asset management and administrative services to several Danish life and pensions organisations.
Key sustainability-related investment needs:
- Listed equities: the largest allocation is to externally managed segregated mandates, either quantitative active or passive. Sustainability criteria are applied in the manager selection and in the monitoring of the managers.
- Fixed income: the majority of fixed income investments are managed internally. ESG considerations are integrated to credit investments but not to SSA. Some pooled funds are included and sustainability criteria are used in the selection and monitoring of managers.
- Illiquid assets: the largest allocation is to pooled externally managed funds in real estate and private equity where sustainability is part of the monitoring process. A small allocation is made to hedge funds where no sustainability considerations are made due to the nature of the strategies.
ORGANISATION
The Sampension Group comprises the parent company, Sampension Livsforsikring A/S, the subsidiary Sampension Administrationsselskab A/S and a number of other subsidiaries and associates.
The objective of Sampension Administrationsselskab A/S is to provide administrative services to life insurance companies, pension funds and pension companies as well as general asset management services and other related business.
Ownership:
The owners of Sampension Administrationsselskab A/S are:
- Sampension Livsforsikring A/S (88%)
- the Pension Fund for Architects & Designers (3%)
- the Pension Fund for Agricultural Academics and Veterinary Surgeons (3%)
- the Pension Fund for Technicians- and Bachelor of Engineering (6%).
KEY DECISION MAKERS
CHAIR
Jørn Pedersen
CHIEF EXECUTIVE OFFICER
Hasse Jørgensen
CHIEF INVESTMENT OFFICER
Henrik Olejasz Larsen
DEPUTY CHIEF INVESTMENT OFFICER
Jesper Nørgaard
HEAD OF EQUITIES
Philip Jagd
HEAD OF FIXED INCOME
Lars Peter Lilleøre
HEAD OF CREDIT
Anders Taube Lassen
HEAD OF REAL ESTATE & INFRASTRUCTURE
Torbjørn Lange
HEAD OF ALTERNATIVES
Majken Hauge
HEAD OF ESG
Jacob Ehlerth Jørgensen
SENIOR ESG ANALYST
Steen Hauskou Bertelsen
RELATED ENTITIES
- Pension Fund for Architects & Designers
- Pension Fund for Agricultural Academics and Veterinary Surgeons
- Pension Fund for Technicians and Bachelors of Engineering
SUSTAINABILITY FOCUS
PUBLIC COMMITMENT (SENIOR LEADERSHIP STATEMENT)
Sampension believes that investing with the best return to our members in the long run will be obtained when investing responsibly. We assess all investment opportunities equally by their risk-return profile and in that proces we also integrate the ESG-risks and opportunities in each investment decision. That is integrating information on each company or issuers profile and behavior when it comes to environment and climate change, social issues and good governance. Creating responsible returns goes hand in hand with contributing to the SDG’s as well. The responsibility of integrating ESG issues into the investment proces lies with the individual portfolio managers as with all other financially substantial investment issues. But a dedicated ESG team has a critical role to support the ESG work and considerations among the different asset classes. Together with maintaining the overall ESG consistency across different asset classes. The independent ESG-team and ESG committee is headed by the deputy CIO who has the overall responsibility of integrating ESG in line with the policy of responsible investments. This work is supervised by a group of executive management members. All of the work done within the ESG space is being reported upon and monitored by a designated group of members from across our four boards.
Overall Sustainability Committment
SUSTAINABILITY FOCUS BY ASSET CLASS
Listed Equities (23.9% - approx. €4,620m)
Internal & External Management
Sampension's listed equity allocation is mostly managed externally and allocated to segregated passive and active quantitative mandates. A smaller portfolio of externally managed listed equities is invested in active fundamental segregated mandates. The listed equity allocation that is internally managed is active fundamental.
According to the latest PRI disclosures, Sampension does not invest in listed equities pooled funds, but ETFs are not excluded.
Geographical focus
The majority of listed equity investments are made in developed market, whereas a smaller part is allocated to emerging markets. According to the latest disclosures, Sampension does not invest in frontier markets.
Sustainability focus
At Sampension, all AUM invested in listed equities are covered by asset-specific ESG guidelines. Sampension integrates ESG in its internally managed equity allocation as well in the manager selection and monitoring for both active and passive external mandates. According to the latest disclosures, Sampension does not invest in listed equity sustainability labeled products.
Fixed Income (43.7% - approx. 48,477m)
Internal & External Management
Sampension's fixed income allocation is mostly managed internally, all of it actively. A small part is allocated to externally managed pooled funds. The fund does not use segregated mandates for the fixed income allocation.
Of the internally actively managed fixed income allocation, the largest part is invested in SA, followed by securitized and lastly corporate bonds that represent a smaller allocation. Externally managed pooled funds are invested majoritarily in corporate bonds and to a lesser extent in securitized instruments.
According to the latest disclosure, Sampension does not invest in fixed income passively nor does it invest in private debt.
Geographical focus
The majority of fixed income investments are allocated to developed markets, with a small part of the SSA investments allocated to emerging markets.
Sustainability focus
At Sampension, most AUM invested in fixed income are covered by asset-specific ESG guidelines. Sampension integrates ESG in its internally managed SSA, corporate and securitized allocations however it does not integegrate ESG to its manager selection. External managers are monitored for ESG criteria. According to the latest disclosures, Sampension does not invest in fixed income sustainability labeled products.
Illiquid Assets & Alternative Investments (23.5% - approx. €4,543)
Internal & External Management
Sampension's illiquid investments are in majority in real assets, a larger part of which is invested in real estate and infrastructure. The vast majority of these investments are managed externally, and mostly in pooled funds. In real estate, infrastructure and to a lesser extent in private equity, some segregated mandates are also part of the allocation. Sampension manages a small real estate and infrastructure portfolio in-house but no private equity or hedge fund investments are made internally.
Geographical focus
The majority of illiquid investments are allocated to developed markets, with a small part private quity and hedge funds are located in emerging markets. No real asset investments are made outside of developed markets.
Sustainability focus
At Sampension, private equity and real asset investments are covered by asset-specific ESG guidelines. Hedge funds are not, most likely due to the fact that hedge fund investments are made in styles that are not easily integrated in an ESG framework (Global Macro, fixed income relative value). This includes ESG integration in manager selection, appointment and monitoring. No sustainability labeled products are included.
SOURCES & RESOURCES
1 Company website
2 Company annual report 2021
3 Responsible Investment and Active Ownership Policy 2022
5 PRI Transparency Report 2021
6 PRI Transparency Report 2020
