Industry Updates

Danish pension fund hands €2.6bn passive climate change mandate to Amundi

Tom Eckett

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Danish labour market pension fund Pensam has selected Amundi to run a €2.6bn passive global equity climate change mandate.

In a separately managed account, Amundi will track the MSCI ACWI Climate Change index while incorporating client-specific customisations.

Earlier this year, Pensam announced plans to measure its entire listed equities portfolio against a climate change index as part of its move to reduce its carbon impact and support the green transition.

Claus Jørgensen, CIO of Pensam, commented: “The mandate will be key to achieving our key goals of strong returns, integration of climate objectives and low cost.”

Lack of ‘reliable’ ESG data stunting climate-related passive growth among pension funds

Fannie Wurtz (pictured), head of ETF, indexing and smart beta at Amundi, added: “Amundi’s size and scale positions us perfectly to deliver best-in-class index management, leveraging our global trading desks, deep index research capabilities and diligent portfolio construction, all combined with the flexibility to tailor solutions that meet client needs.”

The move comes two weeks after Europe’s largest asset manager was chosen to manage a Paris Agreement-aligned European equity index fund for 12 French institutional investors.

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