Lonmodtagernes Dyrtidsfond, Frederiksberg, Denmark, hired two managers to run a total €870 million ($1.1 billion) in bond investments, confirmed Michael Steen, head of investment analysis.
The fund, known as LD Pensions, chose Nordea Investment Management to run a €270 million investment in short-duration bonds, previously run by HP Fondsmaeglerselskab.
Separately, Nordea and Danske Bank were hired to run a total of about €600 million in Danish high-grade bonds. Nordea's contract includes European covered bonds. The allocations were previously run by Nordea and Nykredit.
The pension fund launched a search in April.
LD Pensions has about 35 billion Danish kroner ($5.7 billion) in assets.