Pensioenfonds Horeca & Catering (PH&C) is the Dutch mandatory pension fund for the hospitality and catering industry, and serves more than one 1.2 million participants.[1] As of the end of 2016, PH&C had over €8,296 million in invested capital.[2]
PH&C excludes investments in a range of controversial weapons, including nuclear weapons.[3] The policy comprehensively covers companies involved in production, research and development, sales/ trade, management/services/maintenance and specifically designed delivery systems.[4]
PH&C applies its exclusion policy to all its asset classes. PH&C works only with external asset managers who are also required to comply with the policy.[5]
The pension fund makes use of an exclusion list based on research by Sustainalytics.[6]
As of 14 September 2017 the exclusion list contains 34 companies for involvement with nuclear weapons: AECOM Technology, Aerojet Rocketdyne Holdings; Airbus; Babcock International; BAE Systems; Boeing Company; BWX Technologies; CACI International; China Shipbuilding Industry; CNIM; Dassault Aviation; Ducommun; Fluor; General Dynamics; Harris; Honeywell International; Huntington Ingalls; Jacobs Engineering; Kratos Defence and Security; Larsen & Toubro; Leonardo; Lockheed Martin; ManTech International; Northrop Grumman; Oceaneering International; Orbital ATK; Raytheon; Rockwell Collins; Rolls-Royce Holdings; Safran; Serco; Tetra Tech; Thales and Walchandnagar Industries.[7]
Website: www.phenc.nl/en
Facebook: https://www.facebook.com/PensioenfondsHorecaEnCatering
[1] Pensioenfonds Horeca & Catering, “Summary of Annual Report 2016”, website Pensionfonds Horeca & Catering, (http://www.phencjaarverslag.nl/Englishsummary/SummaryAnnualReport.aspx), viewed 23 January 2018.
[2] Pensioenfonds Horeca & Catering, “Asset management”, website Pensioenfonds Horeca & Catering (http://www.phencjaarverslag.nl/Englishsummary/Assetmanagement.aspx), viewed 23 January 2018.
[3] Pensioenfonds Horeca & Catering, “Asset management”, website Pensioenfonds Horeca & Catering (http://www.phencjaarverslag.nl/Englishsummary/Assetmanagement.aspx), viewed 23 January 2018.
[4] Pensioenfonds Horeca & Catering, written response to PAX dated 16 November 2017.
[5] Pensioenfonds Horeca & Catering, written response to PAX dated 16 November 2017.
[6] Pensioenfonds Horeca & Catering, written response to PAX dated 16 November 2017.
[7] Pensioenfonds Horeca & Catering, “Lijst van uitgesloten beursgenoteerde ondernemingen”, 14 June 2017, available at https://www.phenc.nl/PHENC/assets/File/Lijst%20van%20uitgesloten%20beursgenoteerde%20ondernemingen%20Q32017.pdf, viewed 23 January 2018.
Last modified March 2018