The head of AP Pension – a commercially-run mutual pension provider in Denmark – has expressed regret that the fund had not had more exposure to the surging Danish equities market in the first half of this year.
Reporting interim figures, the fund posted an overall first-half return of 2.1%.
Unit-link pension savings overall returned 4.8%, up from 4.7%, it said, while with-profits savings generated a return of just 0.4%, down from 6.2% in the same period last year.
Søren Dal Thomsen, chief executive at AP Pension, said: “Seen as a whole, we achieved a satisfactory result, but, seen relatively, we could have considered whether we should have had more Danish shares.”
Financial markets have been particularly marked in the first half of the year by the situation in Greece but also by central banks’ easy monetary policy and expectations about this, AP Pension said.
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