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SKAGEN becomes founding signatory of the Tobacco-Free Finance Pledge

SKAGEN Funds has today announced that it, along with parent company Storebrand, has become a founding signatory of the Tobacco-Free Finance Pledge.

Date: 27/09/18

SKAGEN has pledged not to invest in tobacco-related companies. Image: Vilhelm Rosenstand, 1886. By Peder Severin Krøyer, one of the Skagen painters. Belongs to Skagens museum (manipulated).

The Tobacco-Free Finance Pledge is an initiative developed in collaboration with the UN-supported Principles of Responsible Investment (PRI), the UN Environment’s Principles for Sustainable Insurance (PSI), the UN Environment’s Finance Initiative (UNEP FI) and a number of prominent financial institutions. It aims to encourage the adoption of tobacco-free finance policies across the lending, investment and insurance sectors, thereby helping to address an epidemic that currently accounts for seven million deaths each year and could lead to as many as one billion over the course of this century due to tobacco related illnesses.

SKAGEN’s adoption of the Tobacco-Free Finance Pledge reflects its longstanding commitment to sustainable investing. A signatory of UN PRI since 2012, SKAGEN employs sustainable investment principles across its product range, while also adhering to the Storebrand Standard, a commitment by its parent company to invest in companies that contribute positively to sustainable development.

“Sustainable investing is in SKAGEN’s DNA,” said Alexandra Morris, Investment Director at SKAGEN Funds.

“Our participation in this project is a natural extension of our longstanding convictions and activities, with our two flagship products SKAGEN Global and SKAGEN Kon-Tiki having both been ‘tobacco-free’ since their inceptions. The Tobacco-Free Finance Pledge is an excellent initiative that we are proud to support, and one that offers a meaningful solution to a major global challenge.”

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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