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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."

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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