The procurement concerns asset management services in the form of discretionary portfolio management in respect of financial instruments.

Through the procurement, the foundation is looking for active managers, with excellent track records and high quality investment teams that are stable over time. Relevant investment teams should not manage too large portfolios of assets, as management may then become constrained by market liquidity. The foundation places great emphasis on a manager's ability to timely change relevant allocations between equities and fixed income instruments, as well as on how much the manager has proven to deviate from the strategic allocation of its relevant benchmarks. Of significance is also a manager's stock-picking capability and skill to have a large number of truly active positions in a portfolio without a very high risk compared to the benchmark. Finally, the foundation is looking for managers that care for sustainability issues in a broad sense. In parallel with the procurement, the foundation carries out 2 additional, wholly separate procurements of asset management services concerning a Global mandate and an Absolute return mandate (the parallel procurements). A tenderer may submit a tender for the procurement as well as 1 or both of the parallel procurements, and, as illustration only, if a tenderer has submitted a tender for all 3 procurements, such tenderer may be awarded with none, 1, 2 or 3 mandates.