Danish bank scheme awards brief to State Street
DENMARK – State Street Global Advisors says it has been awarded a $160m (€118.9m) global enhanced equities mandate by Danish bank scheme Bank//Pension.
Bank//Pension covers around 11,000 employees for companies in the Danish financial sector.
“SSGA’s risk-controlled strategies, which aim to deliver consistent excess return over the benchmark, is exactly what we were looking for,” scheme chief investment officer Leif Hasager was quoted as saying.
“The combination of SSGA’s capabilities with Jyske Invest’s administration gave the strategy the local dimension we needed.” Jyske will administer the fund.
“We are pleased that Bank//Pension recognises the value of the track record that our enhanced equity strategies have achieved,” said Benoît Fally, managing director at State Street Global Advisors.
“This agreement is part of the strategic partnership between State Street Global Advisors and Jyske Invest to promote and manage SSGA’s funds in Denmark,” added Jyske Invest MD Hans Jørgen Larsen.
“Fund management is one of Jyske Invest’s main focus areas, and we are pleased that SSGA and Bank//Pension have chosen to collaborate with us.”