Danish pension fund LD has reported an overall return for January to June of DKK3bn (€402m), corresponding to a 5.7% return.
This compares to 5% for the same period last year.
In its interim report, LD said equities generated 16.2%, while combined corporate bond and sovereign bond portfolios returned 0.7%.
Its main balanced fund, LD Vælger, which is used by 90.9% of scheme members, returned 4.9% in the six-month period, while the equities fund produced 26.7%.
LD, which manages a non-contributory scheme for Danes based on cost-of-living allowances for workers granted in 1980, said total assets grew to DKK56bn, up DKK1.6bn from the end of December last year.
It said this was a level not seen since 2007.