PensionDanmark, Copenhagen, appointed Hermes Equity Ownership Services to provide stewardship services, and to assist in implementing its responsible investment policies, said a spokesman for the pension fund.
Hermes EOS, an engagement services firm, will also help the 170 billion Danish kroner ($28.2 billion) non-profit labor market pension fund to remain an active owner of the companies in which it invests. It will apply its stewardship services across PensionDanmark's €6.5 billion ($8 billion) foreign-listed equity portfolio.
Hermes EOS replaces F&C Asset Management in providing the services, the spokesman said.
PensionDanmark already invests using environmental, social and governance considerations.
“Alongside our obligation to pursue high risk-adjusted investment returns, we also have a fiduciary duty to tackle social, ethical and environmental issues,” said Jens-Christian Stougaard, director at PensionDanmark, in a news release from Hermes EOS. “We chose Hermes EOS because of the team's expertise and their understanding of the commercial challenges and opportunities to engagement and good stewardship.”
