The board wishes to agree with an administrator as well as two independent asset managers, with a view to the trustee to establish and operate an investment association associated with two asset managers.

The funds, which are desired managed and managed, amount to about DKK 3.2 billion. Initially, asset managers would have to manage a portfolio of about DKK1.6 billion each.

With Partial Agreement 1, the Board wishes to contract the establishment and administration of an investment association with an administrator. Administrator must establish and operate an investment association with up to two asset management departments. The sub-agreement includes administrative tasks related to the establishment and operation of the investment association, including ongoing record of trades, control and compliance, and unreporting to the Board of Directors. A detailed description of the tasks is set out in Annex 1A of the procurement material.

Part Agreement 1 shall be awarded among the Bidders who have only tendered on Parts Agreement 1 and the Bidders who tendered both Parts 1 and Parts Agreement 2-3, but are not awarded to one of the Parts Agreements 2-3. It should be noted that the allocation of the partial agreements is so that the incoming Administrator (Part Agreement 1) and the future Asset Managers (Parts Agreement 2-3) may not belong to the same financial group. Hereby is believed that the winners are presumed to be independent of each other, including managerial, operationally, financially and in terms of ownership, including ultimate ownership.

With Partial Agreement 2, the Board wishes to contract for the management of an asset management division with an asset manager. The asset manager shall manage the capital of the asset management division, i.e. the part of the total capital of the mutual fund managed by the asset manager under the contract within the framework of the investment policy set out by the Board of Directors. The asset manager shall cooperate with the administrator in accordance with Partial Agreement 1, including carry out monthly reporting to the administrator. The individual asset management division receives a portfolio of approximately DKK 1.6 billion. A detailed description of the tasks is set out in Annex 1B of the procurement material.

If the Bidder wishes to offer the task of the asset manager (Parts 2 and 3), only one offer is made. Thus, no self-contained offers shall be made on Partial Agreement 2 and Partial Agreement 3.

Parts Agreement 2 and Partial Agreement 3 are awarded to the best and second best deals rated in accordance with the award criterion and evaluation model respectively. It should be noted that the award of the partial agreements is so that the incoming administrator (part agreement 1) and future asset managers (sub-agreement 2-3) may not belong to the same financial group. Hereby is believed that the winners are presumed to be independent of each other, including managerial, operationally, financially and in terms of ownership, including ultimate ownership.

With Partial Agreement 3, the Board wishes to contract for the management of an asset management division with an asset manager. The asset manager shall manage the capital of the asset management division, i.e. the part of the total capital of the mutual fund managed by the asset manager under the contract within the framework of the investment policy set out by the Board of Directors. The asset manager shall cooperate with the administrator in accordance with Partial Agreement 1, including carry out monthly reporting to the administrator. The individual asset management division receives a portfolio of approximately DKK 1.6 billion. A detailed description of the tasks is set out in Annex 1B of the procurement material.

If the Bidder wishes to offer the task of the asset manager (Parts 2 and 3), only one offer is made. Thus, no self-contained offers shall be made on Partial Agreement 2 and Partial Agreement 3.

Parts Agreement 2 and Partial Agreement 3 are awarded to the best and second best deals rated in accordance with the award criterion and evaluation model respectively. It should be noted that the award of the partial agreements is so that the incoming administrator (part agreement 1) and future asset managers (sub-agreement 2-3) may not belong to the same financial group. Hereby is believed that the winners are presumed to be independent of each other, including managerial, operationally, financially and in terms of ownership, including ultimate ownership.