Shareholder engagement

SEB Asset Management AB (“SEB Asset Management” or the “Company”) provides among other things portfolio management services to its clients.

These Principles for Shareholder Engagement apply solely to portfolio management investments made in shares issued by companies within EEA and listed on a regulated market (Investee Companies).

Prior to investments made in fund units, SEB Asset Management is conducting reviews of the fund management companies. In such reviews, governance- and shareholders-related matters are assessed. Therefore, SEB Asset Management seeks to apply these Principles for Shareholder Engagement, to the extent possible, when investments are made in fund units managed by SEB Investment Management or external fund management Swedish and foreign companies.

Where the portfolio management has been delegated, it has been required that the entity to whom the portfolio management has been delegated shall ensure the fulfilment of these Principles for Shareholder Engagement adopted by SEB Asset Management.

Exercising voting rights

SEB Asset Management does, as a general rule, not provide proxy voting or other assistance services to shareholders to promote the shareholders’ participation in shareholders' meetings where nominee registered financial instruments are subject to Portfolio Management.

Monitoring and review

SEB Asset Management receives continuous information in order to monitor and review the Investee Companies. These research activities enable the Company to have dialogues with representatives of the Investee Companies and to meet external analysts and gather their written research.

SEB Asset Management’s organisation has significant experience in, and works actively with, evaluating and monitoring the strategies, financial and non-financial results and risks, capital structure, as well as social and environmental impacts of the Investee Companies based on the information obtained.

Dialogues with Investee Companies’ representatives, other shareholders and stakeholders

By having direct contact with the Investee Companies, i.e. by participating in capital markets days, meetings with the Investee Companies and attending financial report presentations, SEB Asset Management’s organisation evaluates whether an investment meets the expectations to reach a sustainable and long-term investment with good return for the clients. Dialogues with other shareholders and stakeholders can occur in connection with i.a. capital market days and presentations.

Managing conflicts of interest

SEB Asset Management has adopted instructions for handling conflicts of interest. These instructions describe how any conflicts of interest is handled. Active ownership shall be conducted in such a way that SEB Asset Management generally does not receive insider information. If this does occur, the opportunity to execute transactions on behalf of the funds will be limited. The applicable regulations to prevent market abuse and the internal regulations in this area must always be followed when SEB Asset Management holds insider information. The Company’s independence in relation to the SEB Group is achieved in that at least half of the members of SEB Asset Management’s Board of Directors are not employed by SEB and are thus independent members of the Board of Directors. The CEO, portfolio managers and other members are full-time employees of SEB Asset Management. Any ownership issues that affect the rest of the Group, Skandinaviska Enskilda Banken AB (publ), and where a conflict of interest may arise, are handled in consultation with independent members of the Board of Directors of the Company.