28 November, 2018

Public confidence

 

Public confidence is an absolute prerequisite for AP6. Without it, the organization cannot fulfill its mission. Public confidence is acquired over a long period of time. AP6 strives to gain and maintain public trust via its approach to obvious things, like running operations in accordance with laws and regulations.  Other things matter too. Like how AP6, as a government agency, acts in everyday situations, e.g. ensuring that its business travel is done in a sustainable way. 

The owner’s guidelines and AP6’s own guidelines

AP6’s owner, which is represented by the Ministry of Finance has, together with the Swedish Association of Local Authorities and Regions, issued guidelines on where the boundaries lie for bribes and gifts. AP6 maintains a wide margin of safety to what is allowed. The closer you get to the allowed limit, the greater the risk of exceeding it. That’s why AP6 has adopted its own guidelines aimed at safeguarding the organization’s credibility and independence when it comes to decision making. The guidelines are strict and they prohibit employees from accepting gifts in all circumstances, for example. Furthermore, any invitations to individual employees must have a clear and relevant professional purpose. Whatever is offered in the form of meeting setting, location, food and drink should be reasonable. An employee of AP6 must never risk acting in their own interest – or being swayed by someone else who may influence their decision. The rules that we have established help ensure this. AP6 employees must never act in a way that risks damaging public confidence in how pension fund assets are managed.

AP6’s Ethics Committe acts as an advisory body in matters concerning the ethics, credibility and appropriateness of anything associated with AP6. This may involve everything from invitations to industry events to specific portfolio company business considerations. The Ethics Committee deals with cases both on its own initiative and on the initiative of employees. Ethical issues are also discussed on an ongoing basis within the organization.
The AP6 Code of Conduct describes the values that apply to the organization and is aimed at employees, partners and holdings.