Luxembourg, LU, 18 March 2025 — Nordea Asset Management (NAM) is honored to announce that one of the largest public pension plans in France, Ircantec, has selected NAM, in partnership with ODDO BHF AM, to manage a decarbonisation focused global equity mandate with a target of EUR 800 million.

Ircantec is a French complementary pension scheme which manages pensions for non-permanent employees of the French government, local authorities and public institutions with over €17bn invested in the financial markets. In terms of day-to-day management, Caisse des Dépôts et Consignations, the French state long-term investment and economic development institution, acts as fiduciary manager of the scheme, and selects external asset managers to manage dedicated mandates. The mandate is wrapped in a French-domiciled fund which was launched in January 2025 and hosted by ODDO BHF AM.

The mandate is a customised active global equity solution based on NAM’s BetaPlus Responsible Enhanced Equities Strategies. To help Ircantec achieve its 7% annual CO2 reduction, the strategy uses NAM’s proprietary state-of-the-arts decarbonisation tools to track companies’ progress towards Net Zero, ensuring effective carbon reduction.

The mandate will be managed by NAM’s Multi Assets Team, which has been managing BetaPlus strategies for over 15 years, with more than EUR 60bn in AUM across 15 customizable strategies as of today. The team has a long and successful track record and works closely with NAM’s Responsible Investments Team, one of the largest and longest-standing in Europe, to assess companies based on their contributions to sustainability.