Lærernes Pension has announced plans to divest from PDD Holdings, which owns the Chinese trading platform Temu, acknowledging that the ongoing screening of the company "should have been better".

Although Lærernes Pension currently has around DKK 92m in PDD holdings, the provider confirmed that it has prioritized revisiting this investment, which has been with an external asset manager, as a result of recent criticism towards Temu, and current media interest.

Lærernes Pension explained that when delving into the available information about the company, it was "clear" that no significant positive development has taken place, depite "perisistent and clear" criticism from the outside world in several important areas."

As a result, the provider confirmed that it is now is excluding and divesting PDD Holdings from its portfolio.

"It is clear from our policy for responsible investments that not everything is caught by our data sources and screenings, so we take it seriously when, for example, journalists and non-government organisations make us aware of new knowledge and new angles," Lærernes Pension stated.

"When we discover investments that are not caught by our screening, but that are suspected of not living up to our policy for responsible investments, we can exclude the company after a concrete assessment, and that is what has happened in this cases."

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