Swedish pension providers Folksam and KPA Pension have created a rainbow light installation on their landmark head office tower block in Stockholm, as a display during this week’s Pride Week celebration, to show support for diversity.

Camilla Larsson, chief executive officer of KPA Pension, said in a statement about the move: “KPA Pension is constantly working for a better future in the form of good pensions and a more sustainable and equal society.”

The CEO of municipal pension fund, which is a subsidiary of insurance and pensions group Folksam, added that LGBTQI rights were human rights and therefore something the pension fund wholeheartedly supported.

Ylva Wessén, CEO of Folksam Group, said nearly half of all households in Sweden were insured by her firm, adding: “Therefore, it is natural to show all employees and customers our support for diversity and everyone’s equal value.”

Folksam said the installation consisted of 1,172 lamps, illuminating 612 windows over six floors of its 28-storey building during the week.

Yesterday, a group of UK asset owners announced a new initiative, inviting their peers to join them in committing to take account of fund managers’ diversity and inclusion efforts when selecting and monitoring managers.

Created by Brunel Pension Partnership, London CIV, Lothian Pension Fund, NEST, RPMI Railpen and West Midlands Pension Fund, the “Asset Owner Diversity Charter” has the aim of formalising principles that asset owners can commit to to improve diversity across the investment industry.

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