Copenhagen-based Kommunernes Pensionsforsikring (KP Pension), the local authority fund, has appointed First State Investments to run a pan-European small cap mandate.
Bjørn Kroghsbo, senior portfolio manager of First State Investments, explained that it will initially receive £30m (€48.5m) from the fund. He said: "Small cap investments is an asset class we want to increase our investments in and it is likely that the initial £30m will increase annually, depending on how the asset class performs."
