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Faith Consistent Investing

Faith Consistent Investing. New investments for the Faiths: Opportunities or sources of conflict ?. Agenda. About Opplysningsvesenets fond The SRI guidelines The investment policy Society Improving investing Howe Faith Consistent are the investing? Appendix. About Opplysningsvesenets fond.

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Faith Consistent Investing

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  1. Faith Consistent Investing New investments for the Faiths: Opportunities or sources of conflict?

  2. Agenda • About Opplysningsvesenets fond • The SRI guidelines • The investment policy • Society Improving investing • Howe Faith Consistent are the investing? • Appendix

  3. About Opplysningsvesenets fond • Opplysningsvesenets fond is an endowment for The Norwegian Church • Its English name is The Norwegian Church Endowment • The beneficiary is The Norwegian Church • The Ovf’s net asset value is 6 billion NOK (or 720 million EUR/900 million USD)

  4. Ovf’s Organisation

  5. Opplysningsvesenets fond total asset

  6. The SRI Guidelines

  7. Revenue and SRI criteria • The Church must benefit from Ovf • We needed criteria that would not take away that benefit • We wanted to find out if SRI criteria outperform or under perform non SRI criteria • There are 14 indexes with SRI criteria

  8. Domini 400 S&P DJSGI DJGI (SBI) 500 (SBI) Return (%) 16.22 15.02 12.22 9.30 Assess Return (%) 1.20 2.92 Standard 15.38 14.27 15.29 14.16 deviation (%) Beta 1.06 1.00 1.03 1.00 Sharp ratio 0.72 0.70 0.46 0.29 Ex post tracking 3.16 4.58 error In formation ratio 0.38 0.64 Source: ABN Amro SRI index vs Ordinary

  9. The guideline for our work

  10. The SRI criteria The church fundamental ethical principles Area of conduct Area of activity P • Environmental improving • New energy forms P Investment Universe • Sustainable use of resources • Health improvement u • Sustainable labour right • Environmental r b • Developing in under developing countries Positive o criteria l f c i i Ovf’s Social Responsible Investment Universe Investment Universe Investment t t SRI y Area of conduct Negative • Contraventions of Rights of the Child Area of activity criteria • Contraventions of labour force • Production of nuclear power • Contraventions of human right • Pornography • pollution Investment Universe • Tobacco • Contraventions of biological diversity • Alcohol • Destroying of cultural monument • Gambling • Some biotechnology areas • Weaponry Corporate governance

  11. The Investment policy

  12. Some scenarios • We go for the optimal scenario

  13. The Yale Endowment

  14. The hedge of Real Estate • We belief that Real Estate whit good contract give just as god hedge as hedge fund

  15. Opplysningsvesenets fond – financial asset and return

  16. Society Improving investment

  17. Society Improving investment • Undeveloped countries • Finarca (leasing) 7 million NOK • LAAD (agricultural bank) 7 million NOK • Solidus (microfinance) 7 million NOK • Kolibri kapital (microfinance) 0,5 million NOK • Chikweti Forrest 40 million NOK • Renewable energy • Kraftpartner 1,5 million NOK • Health care • NeoMed 8 million NOK • Other • Verdibanken 3 million NOK • Total 74 mill / 4,3% of financial asset

  18. Different SRI criteria Society Improving investing No to activity of enterprises No to conduct of enterprises Best in class Different instrument Hedge fund Commodities Derivatives Fixed income Private Equity Real Estate Equity CDO’s Forestry Micro finance How fait consistent are the investment?

  19. Thank you Harald Magne Glomdal Phone: +47 23081580 Mobil: +47 45005321 hmg@ovf.no

  20. Appendix

  21. Correlation of asset class

  22. Efficient frontier Adding alternative assets to the investable universe vastly improved the available set of efficient portfolios. Hedge funds and real estate offered the best efficiency in the alternative asset universe.

  23. Return of hedge fund and volatility

  24. Return and montley observation of private equity

  25. Commodity return

  26. Indexes

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