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Climate risk key to Nordea pension mandate

Climate_changeNordea Asset Management has been awarded a global equity mandate by Danish pension fund Pensam, with a view to addressing future climate risk.

The investment mandate – worth over €2 billion – will implement a ‘risk premia’ approach to portfolio management based against a climate change benchmark from index provider MSCI.

According to Pensam chief investment officer Claus Jørgensen, the mandate gives exposure to equity risk premia whilst aiming to integrate the pension fund’s climate and sustainability goals.

Anders Madsen, head of institutional and wholesale distribution in Northern Europe at Nordea Asset Management, said: “Our collaboration [with Pensam] has developed continuously, and we have now agreed to transform it into a global equity risk premia mandate, which also aims at addressing climate risk.”

A big player in the Nordic funds industry, Nordea Asset Management has €233 billion in assets under management as of the end of June.

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