The object of the tender is to appoint an Investment Manager for handling LD's assets within the Danish High Grade Bonds (2 mandates). LD is acting on behalf of its fully owned subsidiary ‘Den Professionelle Forening LD’ (‘PLD’), as the main part of LD's portfolio is placed here. The contract will be signed with PLD.

The mandate is a segregated account and the investment style is active.

The size of the mandates (approximately 9 000 million DKK each) covered by this contract notice is indicative due to LD's inability to determine the volume in advance.

The objective is to outperform the benchmark over a time period of 2-3 years with an out-performance of 50-100 bp p.a. Direct duration bets are not allowed. The investment universe consists of Danish mortgage bonds, covered bonds and government bonds issued by Denmark, Germany, The Netherlands, Finland, Norway, and Sweden. The benchmark consists of Danish mortgage bonds and Danish government bonds. A more detailed description of the characteristics of the mandate can be found in the document ‘Investment Guidelines’ and the questionnaire which both can be obtained via the e-mail address mentioned in section I.1).