Responsible investments

Gildi’s portfolio is managed in accordance with the fund’s investment policy as current, with the goal of achieving suitable risk diversification and long-term returns. Information on Gildi’s focus as a leading investor in the Icelandic market may be found in the Fund’s shareholder policies and policy on responsible investments. The Fund uses four investment paths, one for the mutual pension division and three within the private pension division.

Returns

Gildi’s returns in 2017 were good, mainly attributable to the positive returns of foreign shares and Icelandic bonds. The Fund’s foreign shareholdings yielded approximately 13.2% during the year (measured in ISK) despite the significant strengthening of the Icelandic króna against the US dollar. The decrease in the required rate of return in the Icelandic bond market during the year, moreover, increased the value of the fund’s bond assets, i.e. the part of the assets that are recorded at market value.