AP7 is a Swedish state-owned pension fund. Sweden’s pension system has two tiers: five buffer funds and a premium pension system. AP7 is the only state actor in the premium pension system, and manages AP7 Såfa, the default option for AP7 pensioners (unless they choose otherwise).[1] At the end of 2017, AP7 had around Swedish Krona 343 billion (€34,5 billion) in assets under management.[2]
In line with Swedish government policy, AP7 does not invest in companies deemed to be involved in developing and producing nuclear weapons.[3] AP7 excludes companies involved in all nuclear weapons related weapon systems, including but not limited to ballistic missile submarines and missiles that have the primary purpose of carrying nuclear warheads.[4]
The exclusion policy covers all asset management activities of AP7, including those managed by external asset managers.[5]
AP7 maintains a publicly available exclusion list based on research by ISS- Ethix, accessible through its website.[6] The list is updated twice a year.[7] As of June 2017, the list included the following companies for involvement with nuclear weapons: AECOM; Airbus; Babcock International; BAE Systems; Boeing; Finmeccanica; Fluor.; Fortive Corp; General Dynamics; Harris; Honeywell International; Huntington Ingalls; Jacobs Engineering; L-3 Communications Holding; Larsen & Toubro; Leidos Holdings; Lockheed Martin; Northrop Grumman; Raytheon; Rolls-Royce; Safran; Serco; SGL Carbon; Tata Power; Textron; Thales; Toshiba; United Technologies.[8]
Website: https://www.ap7.se/
Twitter: @AP7se
[1] AP7, “About Us”, website AP7 (https://www.ap7.se/english/about-us/), viewed 29 August 2017.
[2] AP7, “PRI reporting framework 2017”, UNPRI website (https://reporting.unpri.org/surveys/PRI-reporting-framework-2017/D5710C75-8FC4-4DCB-98BA-388389915CF2/79894dbc337a40828d895f9402aa63de/html/2/?lang=English&a=1), viewed 9 February 2018.
[3] AP7, “Svartlistade bolag juni 2017”, website AP7 (https://www.ap7.se/app/uploads/2017/06/Svarta-listan-jun-2017-kommunikation.pdf), viewed 23 January 2018.
[4] AP7, written response to PAX dated 8 November 2017; AP7, “Placeringspolicy och riskhanteringsplan fr.o.m. maj 2010”, 3 June 2010, available at http://ap7.se/PageFiles/90/ap7_placeringspolicy_och_riskhanteringsplan.pdf, viewed 23 January 2018.
[5] AP7, written response to PAX dated 8 November 2017.
[6] AP7, written response to PAX dated 8 November 2017.
[7] AP7, written response to PAX dated 8 November 2017.
[8] AP7, “Svartlistade bolag juni 2017”, June 2017, available at https://www.ap7.se/app/uploads/2017/06/Svarta-listan-jun-2017-kommunikation.pdf, viewed 23 January 2018.
Last modified March 2018