The pension fund takes its responsibility as long term investor. Besides a steady and healthy pension the fund takes also into account the elements of ESG (Environment, Social and Governance) issues.
Pensioenfonds Horeca & Catering gives priority to a good financial performance, but at the same time firmly believes in a socially responsible approach. PH&C has set constraints on asset managers in the area of socially responsible investments. They are supplied with a regularly updated list of companies that must be excluded from their investment portfolios, see list of excluded companies. The Fund continues to aim for the best possible return on investments within a predetermined risk profile.
Under the Financial Supervision Act (Wet op het Financieel Toezicht) investment in cluster munitions became illegal in the Netherlands with effect from 1 January 2013. According to this law pension funds are not permitted to invest in companies that are involved in developing, producing or trading in cluster munitions. Pensioenfonds Horeca & Catering has excluded companies involved in such activities since 2008, and therefore already complies with the new legal provisions. Pensioenfonds Horeca & Catering takes an additional step by excluding all companies which are involved in the production of controversial weapons.
As a result of a survey amongst employers and employees of the Dutch hospitality and catering industry, Pensioenfonds Horeca & Catering formulated in 2014 investment policies with regard to investing in government bonds. Pensioenfonds Horeca & Catering excludes government bonds if the issuing country is under sanction by the European Union or United Nations. As per 20 October 2014 government bonds of the following countries are excluded.
Additionally the fund invests in specific, target investments which are focused on clean technologies. In 2010 and 2012 the fund invested in a dedicated clean technology private equity fund of funds.