Första AP-fonden - a dedicated owner
Första AP-fonden is convinced that companies with strong owners that set long-term requirements perform better than those with passive owners.
Given the long-term perspective of the Fund’s investments, it is logical and profitable to take an active interest in the companies’ future development – the Fund is therefore a dedicated owner that takes its shareholder responsibility.
Failure to take shareholder responsibility always opens the door for other players to pursue their own agendas, potentially at the expense of long-term shareholder value. Today we can see companies where other interests have gained to much influence, for example where the management is overly involved in compensatory matters or where short-term shareholder interests vote for unjustifiably high dividends, etc.
In the long run, companies that take environmental and social responsibility have a good foundation for sustainable profitability. It is therefore natural to try and influence companies in which the Fund has holdings in this direction.
It is also consistent with the Fund’s mission to take ethical and environmental aspects into consideration in the investments if this can be done without a negative impact on return. The Fund involves itself in these issues by making demands on the companies’ actions. Together with other AP funds in the Ethical Council, the Fund initiates a dialogue with companies that can be associated with infringement of international conventions. In many cases, the dialogues bring about the desired changes