COPENHAGEN, June 11 (Reuters) - Swedish fund manager

Lansforsakringar Fondforvaltning said on Tuesday it will vote

against ratifying Tesla CEO Elon Musk's $56 billion pay

package, which is up for a shareholder vote on Thursday.

The fund said in an emailed statement that the remuneration

package would fall outside what could be considered market-based

and reasonable.

"In addition, the CEO is already highly incentivised by

being the company's single largest shareholder," the fund said,

among other reasons for its intention to vote against the pay

package.

Lansforsakringar Fondforvaltning holds about 0.03% of shares

in the U.S. carmaker, according to the fund.