DENMARK - Credit Suisse Asset Management has received regulatory permission to offer nine Luxembourg-domiciled investment funds to Danish pensions investors from 1 January 2005.
The offering will be on the Folkebörsen, a platform established to allow Danish employees choice in the allocation of their SP pension accounts.
SP was established in 1999, at a time when the Danish economy was overheating, to absorb 1% of Danish employees’ gross salary. It has since been managed by ATP and currently amounts to DKK46bn (€5.3bn).
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