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Danica pension product posts 20.8% return for 2010

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DENMARK - Danica Pension, one of the largest commercial pension providers in Europe, said 2010 full-year returns on its unit-link products were between 6.1% and 20.8%, depending on the risk profile.

However, the returns were down on 2009 levels, when they ranged between 13.3% for the Danica Link all-bonds option and 34.4% for the all-equities option.

Danica Pension offers two unit-link products - Danica Link, where pension customers can choose from a range of investment funds, and Danica Balance, which gives various 'lifestyle' risk options.

"With December's contribution," the provider said, "the year ended really well."

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Danica Balance clients received returns of between 8.1% and 17.2%, while those with Danica Link achieved between 6.1% and 20.8% on their investment.

Danica Pension said it was not only the biggest risk-takers who had been rewarded in 2010.

"Even the most cautious investment choices, with regard to equities, have achieved a very nice combined result," it said.

Among Danica Link options, the medium-risk profile produced 14.1% last year, while the 100% equities profile ended with a 20.8% return.

As for Danica Balance, the 'medium equities allocation, 30 years to pension' option achieved 16.1% in returns, while the 'aggressive equities allocation, 30 years to pension' choice returned 17.2%.

Within lower-returning options, the Danica Link 100% bonds profile ended with a 6.1% return, while the low-risk profile produced 9.5%.

In Danica Balance, the 'cautious equities allocation, five years to pension' option returned 8.1%.

"Since 2009 was also a good year, most customers have now more than recouped their losses from the crisis year of 2008," Danica Pension said.

Danica Pension, which is owned by Danske Bank, also offers a traditional with-profits pension scheme.

It is currently ranked 10th on IPE's Top 1000 European Pension Funds list, with more than €34.4bn in assets.

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