Velliv in the media about corporate bonds in VækstPension Index


Velliv has been in the media regarding our savings product VækstPension Index due to the presence of 30 corporate bonds in the portfolio that are part of our exclusion list. The total value of the 30 corporate bonds amounts to 0.2 per cent of the total investments in VækstPension Index and 0.03 per cent of Velliv's total investments. As also stated by the media, Velliv has been working to find a solution and expects to have one implemented within 6 months. Once implemented, Velliv's VækstPension Index will be completely conforming to the exclusion list, as are our other savings products.

Having our customers in mind when finding a solution

VækstPension Index is characterized by being a passively managed and low-cost product where investments in both equity and bonds have historically been placed in external funds. When investments are placed in external funds, i.e. not in Velliv's own keeping, it becomes much more difficult and potentially more costly to completely conform to the exclusion list. During the past couple of years, Velliv has been working on ensuring that all investments in the product conform to the exclusion list, while also being considerate that customers with VækstPension Index prefer cost-conscious options. In 2021, we took the first step by transferring all equities to our own keeping and thereby making it possible for all equities in VæksPension Index to conform to the exclusion list. Velliv has also identified a satisfactory solution for the remaining small part of the product, i.e. the mentioned corporate bonds, and we expect the solution to be in place this autumn.

Making sure communication is clear

Velliv is aware of the challenge of corporate bonds in external funds and has also made notice hereof, e.g. in our Policy on Responsible Investment and Active Ownership, which is available on our website. However, the recent media coverage has made us realise that our communication about the specific issue could have been clearer, and we have taken immediate action.