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 15 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 2014 about membership administration and IT-operations. The membership administration was originally 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 2014 LD chose Danish and foreign portfolio managers who are responsible for the investment management in relation to the different investment mandates.  

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.

Tender Positive Pursuit

Investment Fund Administration

The Majority of LD’s listed assets are placed in Kapitalforeningen LD (KLD). By placing the means in an alternative investment fund it became possible to enter into an agreement with an investment management company about administration of securities. Such an agreement was entered with Nykredit Portefølje Administration A/S in 2018 in cooperation with J.P. Morgan Bank Luxemburg as depositary bank and global custodian.


LD owns the following subsidiaries:

Kapitalforeningen LD - KLD

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.

Read about Kapitalforeningen 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.