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Danish Pensions A/S er altså blevet betragteligt reduceret.
"The EUR3.5bn Danish pension fund, which does not use a consultant, is considering hiring
a currency overlay manager later this year and plans to increase its private equity allocation
from 2% to 5% over the next 2-5 years. State Street Global Advisors and Pareto Partners
have recently been appointed to run a USD40m Japanese equity brief and a USD100m high
yield corporate bond brief respectively. The scheme is currently developing a new Asset Liability
A decision as to whether to hire a currency overlay manager is expected before the end
of the year. The scheme stated that there are no further changes planned in relation
to regional mandates, although the current arrangements will be re-examined in roughly
two years time. SSgA’s new Japanese equity brief was sourced mainly from cash, while
Pareto joins incumbent high yield corporate bonds manager T Rowe Price. The contracts
for the mandates are ongoing and may be terminated at any time.
Equity allocation was cut from 36% to 21% between 2000 and 2002 but has now been
increased to roughly 30%. Overall asset allocation currently stands at: 36.4% in Danish
nominal bonds, 11.9% in foreign nominal bonds, 7.2% in Danish index bonds, 5% in
foreign high-yield corporate bonds, 4.9% in emerging market bonds, 8.8% in Danish
listed equities, 21.7% in foreign listed equities, 2% in private equity, 0.3% in real estate
and 1.9% in cash".