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The information on this website is intended solely for investors residing in Sweden. Always Summer Asset Management AB does not direct its services or marketing to any jurisdiction outside Sweden. Accordingly, the information provided does not constitute an offer or solicitation to buy or sell any investment product or service in any jurisdiction where such offer or solicitation would be unlawful.

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Sustainability

Integrated responsibility. Long-term investing.

At Always Summer, sustainability is part of how we manage capital. We integrate environmental, social and governance considerations into our investment process, ownership approach and risk management framework.
Regulatory Disclosures
Documents & Downloads

Regulatory Disclosures

Our Sustainability Framework

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Integrated in investments

ESG factors are considered alongside financial fundamentals in our credit analysis and decision-making.
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A clear bar

We back companies that meet our sustainability standards — and exclude those that don't. Screening is built into every investment we make.
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Credit as a tool

Where capital flows, values follow. By choosing who we finance, we send a clear signal about the standards we expect.
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Integration of sustainability risks in investment decisions

A sustainability risk is an environmental, social or governance event or condition that, if it occurs, could cause an actual or potential material negative impact on the value of an investment.
Always Summer integrates sustainability risks into its investment decision-making process for the alternative investment funds it manages. This integration is carried out through the following measures:
Norms-based screening
Activity-based exclusions and restrictions
Sustainability risk review
Ongoing monitoring

Norms-based screening

Prior to investment, eligible holdings are screened against international norms, including the UN Global Compact Principles, the OECD Guidelines for Multinational Enterprises and the ILO Fundamental Conventions. The screening covers areas including human rights, labour rights, environmental protection and anti-corruption. Companies identified as being in confirmed and ongoing violation of these norms are excluded from the investable universe. The screening is conducted using data from a recognised third-party ESG data provider and is applied on an ongoing basis to the portfolio.

Activity-based exclusions and restrictions

Activity-based exclusions and restrictions:

Controversial weapons

Companies involved in the development, production, stockpiling or transfer of cluster munitions, anti-personnel mines, chemical weapons and biological weapons are excluded. This also includes companies involved in the production of weapons containing white phosphorus or depleted uranium.

Nuclear weapons

Companies domiciled outside an EU and/or NATO member state involved in the development, upgrade or manufacture of nuclear weapons or key components and services for nuclear weapons are excluded. Companies domiciledin an EU and/or NATO member state are permitted only where nuclear weapons-related activities account for no more than 5% of revenue and where such activities contribute to the nuclear weapons programmes of the United States, the United Kingdom and/or France as permitted under the Treaty on the Non-Proliferation of Nuclear Weapons.

Fossil fuels

Companies deriving more than 5% of revenue from (i) thermal coal mining and/or thermal coal-based power generation, (ii) unconventional extraction of oil and gas, or (iii) prospecting and conventional extraction of oil and gas within the energy sector, are excluded.

Tobacco

Companies deriving more than 5% of revenue from the production of tobacco products are excluded.

Gambling

Companies deriving more than 5% of revenue from commercial online casino gambling or commercial land-based casino gambling are excluded.

Pornography

Companies with revenue from the production of pornographic material are excluded.
Revenue thresholds are based on data from external ESG data providers and refer to revenue from external sales.

Sustainability risk review

As part of the investment process, the fund manager reviews third-party sustainability risk data and screening output for each eligible investment. Where the data provider has identified material sustainability risk flags such as involvement in ESG- related controversies, elevated governance risk or exposure to environmental liabilities, these are noted and considered as part of the overall investment assessment. This review is integrated into the existing investment analysis workflow.

Ongoing monitoring

As part of the investment process, the fund manager reviews third-party sustainability risk data and screening output for each eligible investment. Where the data provider has identified material sustainability risk flags such as involvement in ESG- related controversies, elevated governance risk or exposure to environmental liabilities, these are noted and considered as part of the overall investment assessment. This review is integrated into the existing investment analysis workflow.
Always Summer considers the integration of sustainability risks to be consistent with its fiduciary duty to act in the best interest of its investors.
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Principal adverse impacts

Always Summer does not currently consider the principal adverse impacts of its investment decisions on sustainability factors at entity level, within the meaning of Article 4 of Regulation (EU) 2019/2088. This decision is based on the following considerations:
The fund's investment universe consists primarily of Nordic credit instruments, including privately placed bonds, hybrid instruments and traded loans. Reliable, comparable and consistent PAI indicator data is not yet widely available for a significant portion of these instruments and their issuers.
Always Summer applies a distinct and specialised investment strategy. The mandatory PAI framework, in its current form, is not suitably tailored to the firm’s investment model, and the associated reporting requirements would therefore not represent a proportionate approach.
Always Summer does, however, apply norms-based screening and activity-based exclusions and restrictions that address a number of the most significant adverse sustainability impacts, including those relating to controversial weapons, fossil fuels, labour rights, human rights and environmental standards.

Remuneration policy and sustainability risks

Always Summer's remuneration policy is designed to promote sound and effective risk management and to not encourage excessive risk-taking with respect to sustainability risks. The remuneration structure for relevant staff consists of a fixed component. The remuneration policy does not incentivise staff to disregard sustainability risks in the investment decision-making process. The remuneration framework is structured so that it does not create incentives for risk-taking that is inconsistent with the sustainability risk profile of the funds managed by Always Summer.

The remuneration policy is reviewed at least annually by the board of directors.
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Documents & Downloads

Policy för ansvarsfulla investeringar (in Swedish)

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SFDR Bilaga 2 Always Opportunities (in Swedish)

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Strategi för utövande av rösträtt (in Swedish)

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Interested in learning more about our strategies?

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Always Summer is an independent asset manager that matches capital with innovation. Our founders have built companies, founded companies, and financed companies. Our first fund is designed to capitalize on structural inefficiencies in Nordic credit markets and fill the funding gap for European growth companies. Our long term vision is to build a modern best-in-class, institutionally credible platform.
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