Nordic pension giant picks Nordea to run $240m EM strategy
Finnish pension insurance giant Varma has selected Nordea to run ESG-focused $240m emerging markets equity mandate.
Juliana Hansveden, portfolio manager of Nordea’s Emerging Stars Equity strategy, said better run companies are more likely to succeed over the long term, which means it is crucial to properly understand and analyse ESG risks.
‘Emerging markets continue to offer a lot of opportunities, and we are looking forward to delivering long-term sustainable performance to Varma and its stakeholders,’ she added.
Varma is integrating sustainability as part of the investment process and runs a portfolio of about €47bn, with €2bn in listed emerging market equities.
This is not the only major ESG-focused mandate thatNordea won from a big institutional client.
Nordea was selected to run £325m (€359m) specialist climate and environment equity mandate for the Brunel Pension Partnership in October last year.
The Nordea 1 – Emerging Stars Equity fund has returned 38.9% in US dollar terms over the last three years to the end of December. An average strategy in the Equity-Global Emerging Markets sector returned 16.8% over the same timeframe.
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