Structure
The board of directors and management handle the overall strategic management, inclusive the objectives for outsourcing to the collaboration partners and the guidelines for follow-up and control.
For several years, LD has made use of outsourcing in order to be able to draw on competences and economies of scale with our collaboration partners. Thereby, it has become possible to handle the tasks with an organization comprising of approx. 20 employees, who mainly handle management tasks, control and reporting in relation to tasks which are handled by external collaborations partners. Furthermore, LD’s own organization ensures that rules and guidelines are complied with both internally in LD and externally at the collaboration partners.
Membership Administration
After having submitted a EU tender LD entered into a collaboration agreement with FDC A/S in December 2008 about membership administration and IT-operations. The membership administration was transferred from ATP to FDC in October 2010. FDC has chosen KMD A/S as subcontractor for the membership service area.
The agreement with FDC offers several possibilities for adjusting the costs concurrently with the decreasing number of members. Furthermore, LD has obtained better possibilities for follow-up on service objectives.
Investment Management
After having submitted a EU tender in 2010 LD chose Danish and foreign portfolio managers who from January 2011 are responsible for the investment management in relation to the different investment mandates.
Read the press release about the tender here
or See an overview of the external portfolio managers
LD has planned the investment management and the agreements with the external portfolio managers in a way which ensures that both the members in LD discretionary and the remaining LD pools benefit from the same investment management. This provides advantages both in relation to investment but also lower costs in relation to portfolio management.
Investment Administration
The Majority of LD’s listed assets are placed in the Professional Fund LD (PLD). By placing the means in a professional fund it became possible to enter into an agreement with an investment management company about administration of securities. Such an agreement was entered with Danske Invest Management A/S in 2005.
The investment administration has been submitted to public procurement in 2011. Read more about the public procurement here
Subsidiaries
LD owns the following subsidiaries:
The Professional Fund LD - PLD
The fund is founded by LD in order to make it possible to enter an agreement with an external company about investment management tasks. The fund is 100 % owned by LD and embrace the major part of LD’s listed assets. Click here to read more about the Professional Fund LD.
LD Equity 1 K/S
LD founded LD Equity 1 K/S in 2006. LD Equity 1 K/S handles investments within non-listed and minor listed companies. The company is a limited partnership which is a typical company form for investment funds.
LD owns 76.1 % of LD Equity 1 K/S.
Former associated: LD Invest Holding A/S (now Maj Invest Holding A/S)
LD established Fondsmæglerselskabet LD Invest A/S and LD Invest Holding A/S in 2005 as a first step in the process of outsourcing the investment organization. LD was the majority shareholder in LD Invest Holding which owns LD Invest A/S. The other shareholders were, at the time of establishment in 2005, FIH Erhvervsbank, the management of the company and its employees.
LD and FIH Erhvervsbank divested of their last holdings in LD Invest Holding in April 2011. LD is LD Invest Holding’s customer in the areas where LD Invest were awarded investment mandates in relation to the public procurement process in 2010.
More information can be found on www.majinvest.com.