The Belair initiative

The Belair initiative is a close collaboration between Folksam/KPA, Storebrand and Harcourt. Belair (Lux) Sustainable Alternatives SRI Fund was launched in November 2007 and is a global fund of hedge funds open to external investors that adheres to an institutional SRI framework. The fund of hedge funds offers diversified SRI compliant exposure across markets and hedge fund strategies in order to provide long term, stable risk adjusted performance. All underlying hedge funds, through a combination of customized managed accounts and bilateral agreements, adhere to the SRI framework jointly defined by Folksam/KPA and Storebrand, implemented by Harcourt.

 

Each underlying hedge fund in Belair is selected based on their unique skill-set in employing a certain hedge fund strategy. Each hedge fund then restricts their exposure to a predefined list of SRI compliant instruments. More than 3,000 companies are screened on an ongoing basis to verify compliance to the SRI Policy. The hedge funds are monitored on an ongoing basis to ensure that any exposure expressed in Belair remains compliant to the approved list of instruments and thereby to the SRI framework. This process is audited by PWC annually.