Port of Copenhagen pension fund appoints manager
DENMARK - The pension scheme of the Port of Copenhagen has appointed a pension fund manager to run its assets, including up to a quarter in equities.
In January, the DKK265m (€36m) Københavns Havns Pensionskasse issued a tender for fund management services to the scheme, which currently focuses its investments in "safety and low-risk investments". (See earlier IPE article: Copenhagen Port pension tenders fund management)
The scheme has now awarded Gudme Raaschou Asset Management, a mutual fund manager that is a subsidiary of Lån & Spar Bank A/S, a DKK2.4m, four-year contract for pension fund management services.
Gudme Raaschou Asset Management is expected to operate a strategy for the fund of 0-25% in stocks and 60-100% in bonds.
It will also be required to make regular reports to the Udviklingsselskabet By & Havn I/S board and complete the scheme valuations required by law.