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Company dialogue

Our aim is to be a constructive and responsible owner. We ask challenging questions about important issues, but are also available to the portfolio companies.

Meetings with companies are a key aspect of our management and active ownership activities.

We define “dialogue” as instances where we request an update, feedback, clarification or response on a specific matter or topic we consider very important to the company in question. See also Folketrygdfondet’s expectations.

The table below illustrates Folketrygdfondet’s dialogue with different companies.
 

Dialogues in 2019

As of 31 March 2019
Companies listed in Norway and the other Nordic countries (Sweden, Denmark and Finland).

Topic Topic by number of dialogues Number of companies       
  Norway Nordic region Norway Nordic region
Capital structure, financial targets and strategy 28 12 19 12
Executive remuneration 7 0 6 0
Operations and market developments 25 23 22 22
Board composition 17 0 15 0
Anti-corruption 0 4 0 4
Climate and environment 9 2 8 2
Human rights and workers’ rights 3 0 1 0

Total number of dialogue meetings Norway: 53
Total number of dialogue meetings Nordic region: 24

Total number of companies Norway: 32
Total number of companies Nordic region: 23
 

Issuer dialogue

The table below shows the number of bondholder meetings Folketrygdfondet has participated in, by topic.

Total number of companies Norway: 32
Total number of companies Nordic region: 23

The table below shows the number of bondholder meetings Folketrygdfondet has participated in, by topic.

Topic Topic by number of bondholder meetings Number of companies
Restructuring 0 0
Amendment of loan agreements 1 1

In addition to formal bondholder meetings, Folketrygdfondet regularly engages in dialogue with issuers, including through company presentations, roadshows, and one-on-one meetings.

Total number of issuer meetings: 46
Total number of companies: 41
 

Exclusions

As of 31 March 2019

Folketrygdfondet may not invest in companies that have been excluded pursuant to the Guidelines for observation and exclusion of companies from the Government Pension Fund Global.
The following companies are excluded from the investment universe of the Government Pension Fund Norway:

Swedish Match AB (19 January 2010)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

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