Mistra’s asset management seeks to reflect the Foundation’s remit: to help solve environmental problems and work for sustainable development. These efforts must be made in a way that represents a reasonable balance with the requirements, laid down in the statutes, of a good return and limited risk.Within this sector, asset management for sustainable development takes several forms. Mistra uses the notion of ‘socially responsible investment’ (SRI) in a broad sense. For Mistra, the concept of SRI is three-dimensional: it includes economics, ecology and also cultural and social aspects. However, SRI is open to various interpretations, depending on who uses it and the user’s background.
In an initial phase, Mistra opted to apply exclusion criteria based on UN agreements and conventions to which Sweden is a signatory — ILO, environmental and child conventions etc. The emphasis has now shifted to positive selection, in which we apply the ‘best in class’ model. Mistra’s asset managers have various methods and degrees of environmental and ethical information in their administrative models. Mistra monitors this work closely in order to learn about, and be in a position to influence, future asset management.
When Mistra was formed on 1 January 1994, it had a starting capital of SEK 2.5 billion. These funds came from the former ‘wage-earner funds’¹.
Starting capital, January 1994: SEK 2.5 billion
Assets in September 2009: SEK 2.9 billion
Cumulative sum disbursed for research, September 2009: SEK 2.7 billion
At 1 April 2007, the whole of Mistra’s assets under management were placed according to sustainability criteria. Accordingly, the objective of managing the whole portfolio in line with sustainability criteria by 2007 was achieved.
