This is marketing material. Past performance is not a guarantee of future returns. Returns may be negative due to falling market values.
Future returns will depend, among other things, on market developments, the manager’s skill, the fund’s risk profile, and associated costs. Before investing, customers are advised to review the fund’s key information and prospectus, which contain more detailed information about the fund’s characteristics and costs. Note: Investing in the fund means acquiring units in the fund, not the underlying investments.
Exclusions
DNB AM aims to promote best practices and actively prefers active ownership over exclusions, but companies may be excluded from the investment universe if they violate the criteria in the group instruction for responsible investments.
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Excluded companies
Companies will be excluded from the investment universe if they, or entities they control, produce weapons that, under normal use, violate fundamental humanitarian principles. This criterion includes investments in anti-personnel mines and cluster munitions, as defined in the Convention on the Prohibition of Anti-Personnel Mines and the Convention on Cluster Munitions, as well as companies that develop and produce key components for weapons of mass destruction.
Airbus Group SE
BAE Systems PLC
Boeing Co
BWX Technologies Inc
Fluor Corp.
General Dynamics Corporation
Honeywell International Inc
Huntington Ingalls Industries Inc
Jacobs Engineering Group Inc
L3Harris Technologies Inc
Larsen & Toubro Ltd
Leidos Holdings Inc
Lockheed Martin Corp.
Northrop Grumman Corp.
RTX Corp (Formerly Raytheon Technologies Corp)
Poongsan Corp.
Poongsan Holdings Corp.
Safran SA
Textron Inc
Companies can be excluded from the investment universe if there is an unacceptable risk that the company contributes to or is responsible for gross corruption and other serious violations of fundamental ethical standards.
China State Construction Engineering Corp Ltd
JBS SA
PetroChina Co Ltd
Petroleos Mexicanos
ZTE Corp.
Companies may be excluded from the investment universe if there is an unacceptable risk that the company contributes to or is responsible for serious or systematic violations of human rights, including breaches of one or more of the criteria outlined in the group instruction on the topic.
Adani Ports & Special Economic Zone Ltd
Ashtrom Group Ltd
AviChina Industry & Technology Co Ltd
Bezeq The Israeli Telecommunication Corp Ltd
Bharat Electronics Ltd
Bolloré SE
Centrais Electricas Brasileira S.A
Cognyte Software Ltd
Compagnie de l’Odet
Danya Cebus Ltd
Delek Group Ltd
Elbit Systems Ltd
Elco Ltd
Electra Ltd
Evraz Plc
Formosa Chemicals and Fibre Corp
Formosa Taffeta Co Ltd
Gail India Ltd
Korea Gas Corporation
Groupe Office Cherifien des Phosphates SA (OCP SA)
Hangzhou Hikvision Digital Technology Co Ltd
Honeys Holdings Co Ltd
Korea Gas Corp
Li Ning Co Ltd
Lu Thai Textile Co Ltd
Mivne Real Estate KD Ltd
Companies will be excluded from the investment universe if they themselves or through entities they control derive 30 percent or more of their revenues from the extraction of oil sands (bitumen).
Athabasca Oil Corp.
Canadian Natural Resources Ltd
Cenovus Energy Inc
MEG Energy Corp.
Strathcona Resources Ltd.
Suncor Energy Inc
Companies will be excluded from the investment universe if they themselves or through entities they control produce pornography.
PLBY Group Inc
Companies will be excluded from the investment universe if they themselves or through entities they control produce cannabis for recreational purposes.
Aurora Cannabis
Canopy Growth
Cronos Group
Tilray Brands
Companies may be excluded from the investment universe if there is an unacceptable risk that the company contributes to or is responsible for severe environmental damage or actions or omissions that, at an aggregated company level, lead to greenhouse gas emissions to an unacceptable degree.
Astra International Tbk Pt
Barrick Gold Corporation
Beijing Tong Ren Tang Chinese Med Co Ltd
Bharat Heavy Electricals Ltd
China Traditional Chinese Medicine Holdings Co Ltd
Duke Energy Corp.
El Sewedy Electric Co
Evergreen Marine Corp. (Taiwan) Ltd
Freeport-Mcmoran Inc
Genting Bhd
Genting Plantations Bhd
Grand Pharmaceutical Group Ltd
Halcyon Agri Corp. Ltd
Imperial Oil Ltd.
Jardine Cycle & Carriage Ltd
Jardine Matheson Holdings Ltd
Korea Line Corporation
NHPC Ltd
MMC Norilsk Nickel PJSC
Posco Holdings Inc
Posco International Corp.
Power Construction Corporation of China Ltd
Ta Ann Holdings Bhd
Tianjin Pharmaceutical Da Ren Tang Group Corp Ltd
Tong Ren Tang Technologies Co Ltd
Companies may be excluded if they, or entities they control, derive 30 percent or more of their revenues or business from thermal coal, extract over 20 million tons of thermal coal annually, or have more than 10,000 MW of coal-based power capacity.
Aboitiz Power Corp.
Adani Power Ltd
Adaro Energy Indonesia Tbk Pt
AES Corp./VA
AES Gener SA
AGL Energy Limited
ALLETE Inc
Alliant Energy Corp.
Ameren Corp.
American Electric Power Co Inc
Banpu Public Company Limited
Bukit Asam Tbk Pt
CESC Ltd
CEZ AS
China Coal Energy Co Ltd
China Power International Development Ltd
China Resources Power Holdings Co Ltd
China Shenhua Energy Co Ltd
Chugoku Electric Power Co Inc/The
Clp Holdings Ltd
Coal India Ltd
CONSOL Energy Inc
Core Natural Resources, Inc.
Datang International Power Generation Co Ltd
DMCI Holdings Inc
DTE Energy Co
Electric Power Development Co Ltd
Companies will be excluded from the investment universe if they, or entities they control, produce tobacco.
Altria Group Inc
British American Tobacco Plc (including Reynolds American Inc)
