Global equity mandate worth €800 million assigned to new manager by Ircantec
French Pension Plan Ircantec Partners with Nordea Asset Management for Sustainable Global Equity Mandate
Ircantec, a French pension plan with assets exceeding €17bn, has appointed Nordea Asset Management (NAM) to manage an €800m global equity mandate. The partnership, launched in January 2025, will oversee a customised active global equity strategy based on Nordea AM's BetaPlus Responsible Enhanced Equities strategies.
The mandate is focused on decarbonisation, aiming to help Ircantec achieve a 7% annual reduction in CO2 emissions. The detailed strategy involves leveraging Nordea AM's BetaPlus framework, which combines systematic beta exposure with active stock selection aimed at enhanced returns and responsible investing principles.
The strategy integrates decarbonisation objectives by targeting companies with lower carbon footprints or strong transition plans aligned with climate goals. It also applies an active equity approach that focuses on sustainability themes and enhances ESG (Environmental, Social, and Governance) criteria while aiming for financial outperformance.
NAM's Multi Assets Team, which has over 15 years of experience with BetaPlus strategies and €60bn in assets under management, will manage the mandate. The Responsible Investments Team will also play a key role in evaluating companies based on their sustainability contributions.
To track progress towards net zero, these strategies incorporate proprietary decarbonisation tools. The partnership with ODDO BHF Asset Management is likely to complement this strategy with additional European equity expertise and active management focused on sustainable transitions.
Ircantec's commitment to sustainable investing is further reflected in its pledge to invest 15% of its assets in the transition and divest from fossil fuel assets by 2030. Recently, Ircantec has committed €250m to Nomura's sustainable equity strategy, a mandate which is set to be scaled to reach €1.8bn.
The mandate is structured within a French-domiciled fund hosted by ODDO BHF AM. The collaboration between Ircantec and NAM marks a significant step towards sustainable investing, offering a customised active equity solution aiming for both financial performance and meaningful climate impact.
No further detailed public disclosures on specific portfolio construction, sector or regional weights, or decarbonisation metrics were found in the available sources. However, the strategy is designed to help Ircantec achieve its ambitious climate goals while maintaining a focus on financial performance.
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