Bilag 06

 

 

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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

Model.

 

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".

 

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