Danish investor psychology remains risk-averse, with an eye on the investment horizon

Thu May 3, 2012


Pensions funds in Denmark take direct and FoHF stakes post financial crisis


By Pirkko Juntunen

Charlotte Bonde Tamm Henrik Olejasz Larsen
   
Jesper Uttrup Martin Nørregård
It would be easy to start a story on Danish investment philosophy with that classic line from Hamlet, but that would be unfair as some of the world's most committed hedge fund allocators reside in Shakespeare's famously tragic home by the sea.

Some use the phrase 'fragmented' when describing institutional investor interest and assets committed in Denmark, but 'committed' would also be apt as the stance on hedge funds has not changed much since the financial crises of 2008 and 2009.

The Danish pension and insurance market with assets of more than $535 billion is dominated by a few very large players such as ATP, the largest in the country with over $71 billion in assets, and others such as PFA, Danica Pension, Sampension, PKA, PensionDanmark, Industriens Pension and LD. Other pension fund pools...

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