mast image

Special Report

ESG: The metrics jigsaw


AP7 set to blacklist construction company

SWEDEN- Sweden’s AP7 default fund looks set to blacklist NCC, a construction company that has admitted illegal collusion with competitors over tendering for road building projects.

Richard Grottheim, executive vice president at AP7, says there is a high probability that NCC will fail the fund's SRI criteria at the next portfolio screening in July.

Although AP7’s holding in NCC amounts to only Sek3.5m (e0.4m), the likely decision to offload it demonstrates the fund is serious about pulling investment in companies not meeting its SRI requirements.

Last June it blacklisted 30 companies from its equity portfolio following a scathing report on their environmental and ethical records.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2576

    Asset class: Small Caps Equity.
    Asset region: US.
    Size: $>100m.
    Closing date: 2019-12-09.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

Begin Your Search Here