PenSam and Nordea Asset Management have agreed on a global equity mandate at EUR 2.16 billion fitting PenSam’s climate and sustainability strategy.
“We have a long and successful collaboration with PenSam regarding the management of a number of regional equity risk premia strategies. Our collaboration 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,” says Anders Madsen, Head of Institutional & Wholesale Distribution in Northern Europe at Nordea Asset Management.
The investment mandate lives up to PenSam’s strategy of changing the equity benchmark to the MSCI ACWI Climate Change Index while maintaining a risk premia approach to the portfolio construction.
“Changing the existing mandates to this new global mandate ticks the box for PenSam on a number of crucial parameters. The mandate provides exposure to equity risk premia and at the same time manages to integrate the goals that PenSam has set in relation to climate and sustainability,” says Claus Jørgensen, PenSam’s Chief Investment Officer. “PenSam is pleased to be able to continue the collaboration with Nordea Asset Management, which we consider to be a leading Nordic and international asset manager, with strong expertise in both equity risk premia and ESG.”
Nordea Asset Management has won a number of investment mandates with leading institutional investors with a focus on ESG and climate goals.
“We have for many years been dedicated to responsible and sustainable investments – through traditional, fundamental processes as well as within more quantitative, risk premia oriented processes,” says Anders Madsen. “This has given Nordea Asset Management the opportunity to offer our expertise and products in this rapidly growing area.”
Nordea Asset Management (NAM) is the Nordic region’s largest asset manager with EUR 223 billion end of Q2 2020 in Assets under Management. In June Environmental Finance gave NAM the “ESG Engagement Initiative of the Year” award for its work to reduce pharmaceutical pollution.