Danish insurer Tryg ups ethics with Sparinvest

MSCI World (in euros) lost 5.0 percent in May, so the old slogan of “sell in May and walk away” is actually quite fitting again this year.

Tryg has invested a three-digit amount of DKK in the fund Sparinvest Ethical Global Value, which is an ethical version of Sparinvest Global Value. The ethical version of the fund does not invest in companies involved in controversial activities, such as alcohol, gaming, tobacco, pornography and military-related equipment and services, as well as the production of tar sands and thermal coal.

"In the past year or so, we have spoken to Sparinvest about global value, and we have chosen Sparinvest's ethical global value fund because it has even more strict requirements, and because Sparinvest has very recently further improved the portfolio's reporting on carbon footprint and ESG rating compared to benchmark," Tryg Head of Investments Kenneth Winther says to FinansWatch.

Sparinvest has specialized i value equities for more than 20 years, and Portfolio Manager Jens Moestrup Rasmussen has been in charge of the asset manager's value team since then. Sparinvest Ethical Global Value Fund was opened in 2008, the Danish financial news website writes.

"We want to add this exposure to our portfolio now. We believe the pricing of value equities is currently favorable compared to growth equities," Kenneth Winther adds.

Sparinvest considers the mandate a pat on the back and regional director at Sparinvest Karsten Løngaard, who has been responsible for the contact with Tryg says to FinansWatch:
"Tryg Invest's careful selection of managers to yield return through methodical stock picking matches well with Sparinvest's active approach to equity investment. In recent years, Sparinvest has welcomed several investors from Europe and Asia, we are very pleased with this pat on the back from one of the most highly respected investors in the Nordic region.”

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