DENMARK - Danish pension fund PensionDanmark has added a new fund management house to its list of external managers through the award of an active European equity mandate.

Neptune Investment Management will manage €50m for PensionDanmark in its European equity fund.

It is unclear, however, whether the pension fund has restructured its asset allocation to accommodate this new mandate,  as chief investment officer Claus Stampe was unavailable for comment.

The €8.3bn Danish pension fund had around 34% of its assets or €2.9bn in equities to December 31 2006, while €4.5bn was invested in fixed income,  €210m was held in private equity, just €5m was allocated to infrastructure and €880m was invested in real estate.

PensionDanmark provides pension provision to 500,000 members from 35,000 private and public companies in the construction, transportation, hotels, restaurants, cleaning, and agricultural and sectors.