RESPONSIBILITY

INVESTING IN OUR FUNDS IS IMPACT INVESTING. IN 2016 WE USED 100.000 EURO I.E. 10 % OF OUR COSTS TO CULTURAL PRODUCTION. FOR ONE LARGE FINANCIAL GROUP IT WOULD MEAN 400 MILLION EURO TO CULTURE.
#HCPSPIRIT SINI KUNNAS, MANHATTAN 2015

HCP is an asset management company with a strong commitment to values. Our goal is that both our operations (internal responsibility) and our investments (external responsibility) can withstand critical scrutiny.

INTERNAL RESPONSIBILITY

By internal responsibility, we mean that HCP aims to act towards its customers and other stakeholder groups in a way which is consistent with good practice and which takes into account all aspects of corporate responsibility.

HCP is the first B Corporation in Finland – read more on how taking all stakeholders into account fits the Finnish business law.

Compared to most other fields of business, the financial sector deals with large sums of money, and the products and services are often complex and, therefore, difficult to understand for the layman. This means that it is often difficult for the customers to get a grasp of their investment needs and the characteristics of the available investment products, especially their pricing. All of this leads to the fact that, within the sector, there are many more opportunities to cheat than perhaps usual, and every now and then we get to witness how an opportunity makes a thief.

It is important to understand that the complexity of investing and investment products combined with the ambiguity and looseness of laws has led to the emergence of a large gray area in the sector. Within this gray area, it is possible to operate in a way that is legal, but which nevertheless counts as apparent abuse of customers’ trust. A typical example of such abuse is when a financial company succeeds in selling an investment product whose characteristics or costs differ significantly from what the customer has assumed when making the investment decision.

HCP aims to stand apart from the financial sector’s ethically questionable practices. Here are a couple examples:

  • HCP is the first and, to our knowledge, the only asset management company operating in Finland that in its written customer contracts is committed to returning all kickbacks and similar benefits to its customers.
  • All of HCP’s funds are genuinely actively managed. Through its own investment activities and by participating in public debate, HCP seeks to raise people’s awareness of closet indexing.

EXTERNAL RESPONSIBILITY

By external responsibility, we mean that HCP aims to include corporate responsibility as part of its investment operations. In practice, this means that HCP is publicly committed to considering the ESG (environmental, social and governance) factors of its target instruments and companies.

External responsibility is reflected in the following ways:

  • We incorporate ESG factors into our investment processes.
  • We act as an active owner and include ESG factors in our ownership policies.
  • We strive to enhance appropriate ESG reporting of our investments.
  • We strive to enhance the adoption of responsible investment principles within the investment sector.
  • We strive to promote responsible investment in co-operation with other investors.

HCP is a member of Finland’s Sustainable Investment Forum (Finsif) that promotes sustainable investment. (For more information: http://www.finsif.fi/)

HCP has signed the UN Principles for Responsible Investment (PRI). (For more information: http://www.unpri.org/)