Denmark: Pensions and Investment News and Analysis
Denmark’s mature DC-focused occupational pension system is managed by some of the world’s most sophisticated institutional investors, including PFA, Danica and Pension Danmark. ATP is a state entity that manages a portion of the labour-market system. Recent regulatory developments have included revision of prudent-person rules for the guaranteed part of the pension system, along with rule changes that exempt pension funds and insurance from rules aimed at the banking sector.
Pension Funds in the Nordic region - Country Report
Nordic Region Report 2024: Denmark’s government urges pension funds to support defence
Danish schemes embrace defence – as long as ESG criteria and international conventions are adhered to
TOP DANISH PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- PFA Pension | 102,473,792
- Arbejdsmarkedets Tillaegspension (ATP) | 95,167,690
- Danica Pension | 70,640,258
- PensionDanmark | 44,236,353
- Velliv | 43725728
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Velliv finds new CIO in Nordea AM’s private markets chief
Lea Vaisalo will preside over index-based strategy, whose advent involved exit of alternatives, active equity teams
Denmark’s PFA moves equities closer to benchmark but stays active
Danish commercial pensions heavyweight puts more equity risk into customer profiles, continuing Danish journey to market-rate pension saving
Denmark’s PFA reduces equities overweight ahead of Trump’s tariffs
Copenhagen-based pension fund still sees global economy as strong enough this year to support positive stocks development
Danish pensions lobby proposes government issue defence bonds
IPD says issuing defence bonds could also send a signal on ‘legitimacy’ of arms as investment assets
Velliv drops active equity, alts teams ahead of new CIO, as strategy turns index
Alternatives chief Christoph Junge surprised when whole alts team was made redundant yesterday; Velliv to cut external manager costs
TOP MANAGERS: NORDIC REGION INSTITUTIONAL ASSETS
Company | Assets (€m)
- SEB | 65,000*
- BlackRock | 61,541
- DNB Asset Management | 53,712**
- Nordea Asset Management | 52,442
- Storebrand Asset Management | 35,386***
- State Street Global Advisors | 29,768
- Nykredit Asset Management | 26,163
- Northern Trust Asset Management | 22,607
- Morgan Stanley Investment Management | 8,936*
- Amundi | 8,344
As at 30.9.3.23, *30.16.23, **15.11.23, ***10.6.22
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
IPE BEST PENSION FUND IN THE NORDIC REGION AWARD WINNERS
Nordic Region
- 2023 - The Swedish Fund Selection Agency
Denmark
- 2022 - Industriens Pension
- 2021 - PensionDanmark
- 2020 - PensionDanmark
- 2019 - ATP | PensionDanmark
Norway
- 2022 - KLP
Sweden
- 2022 - Alecta pension insurance, mutual
- 2021 - Fjärde AP-fonden (AP4)
- 2020 - Fjärde AP-fonden (AP4)
- 2019 - Swedish Pensions Agency
Interviews
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Danish politics focuses on the good life
Pensions and the labour market were the focus of end-of-summer political pronouncements in Denmark this year. If brought into action, some of the ideas could lead to forward-thinking changes to pensions.
Velliv finds new CIO in Nordea AM’s private markets chief
Lea Vaisalo will preside over index-based strategy, whose advent involved exit of alternatives, active equity teams
Denmark’s PFA moves equities closer to benchmark but stays active
Danish commercial pensions heavyweight puts more equity risk into customer profiles, continuing Danish journey to market-rate pension saving
Denmark’s PFA reduces equities overweight ahead of Trump’s tariffs
Copenhagen-based pension fund still sees global economy as strong enough this year to support positive stocks development
Danish pensions lobby proposes government issue defence bonds
IPD says issuing defence bonds could also send a signal on ‘legitimacy’ of arms as investment assets
Velliv drops active equity, alts teams ahead of new CIO, as strategy turns index
Alternatives chief Christoph Junge surprised when whole alts team was made redundant yesterday; Velliv to cut external manager costs
Danish €7bn defence fund a ‘strong starting point’ for pensions investment
New proposal shows Danish government ready to invest in arms on a completely different scale, Damsgaard says
Folksam writes off Northvolt, but Heimstaden Bostad holding perks up
Swedish pensions and insurance group returns 8.0% on investments in 2024
Swedes win extra premium pension returns from agency’s changes
Pensions Agency adds inheritance gains and pension rights more frequently, with earlier ownership of assets leading to increased returns for individuals
DB to DC switching triggers more non-pension equity investing too, CBS professor finds
‘By shaping their members’ understanding of capital markets, pension funds can contribute to deeper markets,’ says Jesper Rangvid
IPE Nordic Briefing: Sweden’s national pensions buffer funds to be trimmed down
Plus: ATp on guarantee-based business model; Norway’s SWF returns
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