The Third Swedish National Pension Fund (AP3) has continued to reduce its holdings in game developer Hacksaw, which went public last summer and offers its games on crypto casinos.
According to the latest update, the fund's stake has been halved to 1.5 million shares, valued at 96.6 million kronor. This is reported by EFN following criticism of the fund's investment in the company from David Seekell, ESG specialist at the asset management firm Atle.
Seekell argues that the investment contradicts the fund's goals of sustainability and responsible investing.
“I am quite critical of this holding. In my opinion, one cannot legitimately claim a sustainable or responsible investment profile while owning companies like this,” he says.
AP3's sale of its Hacksaw shares is reported to have resulted in a loss of 18.3 million kronor.
