ATP dumps Nordea

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DENMARK - The largest Danish pension fund, ATP, has dumped Nordea in favour of the Bank of New York as global custodian for assets totalling DKK414bn (US$73bn).

Nordea failed to win back the tender despite ATP’s 1st quarter returns topping DKK 2.6bn, or 2.7%. ATP CIO, Bjarne Graven Larsen, said the fund was impressed with the Bank of New York’s consulta...

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