{"id":1837,"date":"2020-05-05T09:38:03","date_gmt":"2020-05-05T07:38:03","guid":{"rendered":"https:\/\/ostersjostiftelsen.se\/asset-management\/"},"modified":"2026-05-21T14:18:02","modified_gmt":"2026-05-21T12:18:02","slug":"asset-management","status":"publish","type":"page","link":"https:\/\/ostersjostiftelsen.se\/en\/asset-management\/","title":{"rendered":"Asset management"},"content":{"rendered":"\n<p><strong>Like many foundations, the Foundation for Baltic and East European Studies\u00a0has a perpetual\u00a0investment horizon. The original endowment\u00a0shall\u00a0be managed\u00a0in a manner that preserves, at a minimum,\u00a0its real value over time.\u00a0Furthermore, the Foundation\u2019s assets\u00a0shall\u00a0be managed prudently, balancing controlled risk-taking with the\u00a0objective\u00a0of generating attractive long-term returns.\u00a0The Foundation\u2019s\u00a0Board\u00a0has adopted an\u00a0investment\u00a0policy that serves as a\u00a0framework and\u00a0guiding principles for\u00a0managing\u00a0the Foundation\u2019s capital. The policy is reviewed\u00a0annually.<\/strong>\u00a0<\/p>\n\n\n\n<p>The&nbsp;Board&nbsp;has adopted an annual long-term real return target which, as of 2026, amounts to 3.5 per&nbsp;cent.&nbsp;The&nbsp;Board&nbsp;also adopts, on an annual basis, a strategic reference portfolio, specifying allocation&nbsp;levels&nbsp;across asset classes as well as permitted deviation ranges.&nbsp;<\/p>\n\n\n\n<p><strong>The following principles are guidelines for&nbsp;the&nbsp;asset&nbsp;management<\/strong>:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Foundation for Baltic and East European Studies has a perpetual investment horizon, enabling the Foundation to invest with a long-term perspective and thereby\u00a0benefit\u00a0from advantages\u00a0relative\u00a0to more short-term investment strategies.<\/li>\n\n\n\n<li>The Foundation\u2019s assets significantly exceed the endowment capital\u00a0(which\u00a0may not be\u00a0depleted), allowing the portfolio to include investments with\u00a0relatively higher\u00a0expected\u00a0volatility \u2014 but attractive risk-adjusted return characteristics \u2014 such as equities.<\/li>\n\n\n\n<li>Diversification across and within asset classes is essential in managing overall portfolio risk.<\/li>\n\n\n\n<li>In order to\u00a0achieve the long-term return target, the Foundation\u2019s asset portfolio must\u00a0contain\u00a0a balanced allocation\u00a0within\u00a0assets, including equities, real\u00a0estate\u00a0and corporate credit.<\/li>\n\n\n\n<li>Low portfolio turnover and cost-efficient management contribute positively to long-term\u00a0net\u00a0performance.<\/li>\n\n\n\n<li>The resources\u00a0within\u00a0the investment\u00a0organisation\u00a0are limited and must therefore be deployed efficiently.<\/li>\n\n\n\n<li>The Foundation\u2019s investment philosophy\u00a0includes\u00a0a responsible ESG framework, aimed at limiting potential financial consequences associated with ESG-related risks while simultaneously contributing to a sustainable society and environment.\u00a0<\/li>\n<\/ul>\n\n\n\n<p>The&nbsp;Board&nbsp;retains&nbsp;the&nbsp;ultimate responsibility for the Foundation\u2019s asset management&nbsp;and governs the overall framework through the adopted&nbsp;investment&nbsp;policy. On the&nbsp;Board\u2019s behalf,&nbsp;the oversight of the&nbsp;asset management is&nbsp;delegated to an&nbsp;investment committee, which&nbsp;convenes&nbsp;on a monthly basis. The Foundation employs&nbsp;internal portfolio&nbsp;managers&nbsp;which&nbsp;manages&nbsp;the Foundation\u2019s assets on a day-to-day basis.&nbsp;The Swedish Legal, Financial and Administrative Services Agency&nbsp;serves as&nbsp;the Foundation\u2019s back office and middle office functions. Alongside the regular audit,&nbsp;the asset&nbsp;management is&nbsp;also&nbsp;reviewed&nbsp;by an external party&nbsp;on an annual basis.&nbsp;<\/p>\n\n\n\n<p>At the Foundation\u2019s&nbsp;inception&nbsp;in 1994, it&nbsp;was&nbsp;allocated&nbsp;an&nbsp;endowment&nbsp;of&nbsp;SEK 1,270 million.&nbsp;From&nbsp;inception, through 31 December 2025, the Foundation has generated an&nbsp;average annual return&nbsp;exceeding&nbsp;9.5&nbsp;per cent (real return 7.7&nbsp;per cent). During this period, SEK&nbsp;5,1&nbsp;million&nbsp;has been&nbsp;distributed in grants.&nbsp;<\/p>\n\n\n\n<p>The&nbsp;chart below&nbsp;illustrated, in blue, the Foundation\u2019s actual&nbsp;development&nbsp;from&nbsp;inception&nbsp;through&nbsp;31 December 2025. The orange line&nbsp;represents&nbsp;a reference portfolio&nbsp;consisting of&nbsp;40&nbsp;per cent&nbsp;bonds and 60&nbsp;per cent&nbsp;equity, while the gray line&nbsp;represents&nbsp;the assets that&nbsp;may not be&nbsp;depleted.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"980\" height=\"536\" src=\"https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1.png\" alt=\"\" class=\"wp-image-7289\" srcset=\"https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1.png 980w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-300x164.png 300w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-768x420.png 768w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-293x160.png 293w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-80x45.png 80w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-526x288.png 526w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-720x394.png 720w, https:\/\/ostersjostiftelsen.se\/wp-content\/uploads\/2026\/05\/image-1-960x525.png 960w\" sizes=\"auto, (max-width: 980px) 100vw, 980px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Like many foundations, the Foundation for Baltic and East European Studies\u00a0has a perpetual\u00a0investment horizon. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/page-landing.php","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-1837","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Asset management - \u00d6stersj\u00f6stiftelsen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ostersjostiftelsen.se\/en\/asset-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asset management - \u00d6stersj\u00f6stiftelsen\" \/>\n<meta property=\"og:description\" content=\"Like many foundations, the Foundation for Baltic and East European Studies\u00a0has a perpetual\u00a0investment horizon. 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