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PRESS RELEASE |
Uppsala |
e-mail: lotten.andersson@svenskakyrkan.se The Church of Sweden website: www.svenskakyrkan.se
Church of Sweden Portfolio yielded Top Result
The Manager of the Church of Sweden portfolio of stocks and shares- Björn Falkeblad, was the best of all professional trust managers in Sweden last year, achieving a 98 percent return. This result is far above the General Business Index that only reached 66 percent.
"This is very satisfactory, not least because the dividend will be used to support Church of Sweden Aid, Church of Sweden Mission and Church of Sweden Abroad", Björn Falkeblad says.
The major part of the SEK 290 million that Björn Falkeblad manages consist of legacies and donations given explicitly to Church of Sweden Aid, Church of Sweden Mission and Church of Sweden Abroad.
"The reason for this positive result is that we have focused on growth industries and on the telecom sector", he adds. "It is in those areas that we have concentrated our investments over the last year".
The Church of Sweden five largest holdings currently consist of shares in Ericsson, Nokia, Sonera, Netcom and Skandia. The ethical guidelines for management of stocks and shares adopted by the Church of Sweden implies that no money is invested in companies whose main production consist of the manufacture of weapons or of tobacco products
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