Early this autumn, Wealth Management decided that SEB will not invest in companies producing antipersonnel mines and cluster bombs. A process to go through all the investments and sell affected holdings started. “This process will be finished by the end of the year,” says Tove Bångstad, head of SEB Fonder.
SEB has previously signed the Global Principles for Responsible Investment, PRI. Based on that, SEB, this fall also decided to ensure that the bank has no investments in companies that produce antipersonnel mines and cluster bombs.
“All fund managers have been instructed to go through and sell all holdings linked to this type of production. This process is ongoing and will be finished by the end of the year," says Tove Bångstad.
United Nations Association in Sweden published a report on Friday where investments made by Swedish banks and fund companies in companies manufacturing cluster bombs and antipersonnel mines were examined.
In the report, highlighted in Saturday's edition of Swedish news magazine Dagens Nyheter, SEB, with SEB Choice North America Fund, Global Equity Sparfond and World Fund, is pointed out as these funds still have investments in the two American companies L-3 Communications and Lockheed Martin. According to the report, the holdings in the two companies together represent a value of 66 million Swedish kronor.
”Unfortunately, we have not yet completed the review, but the work is well under way and highly prioritised," says Tove Bångstad.