Pensionskassernes Administration A/S, PKA, the multi-employer DKK235 billion (£27.09 billion) Danish pension fund for the country’s healthcare professionals, nurses and social workers, returned a 5.7 per cent return in the first half of this year, boosted by strong performances from private equity and alternatives.
“We are quite satisfied,” says Peter Damgaard Jensen, chief executive officer, speaking from the fund’s Hellerup headquarters outside Copenhagen. He added, “Particularly because of market volatility and Brexit.”
The fund has posted an 8 per cent average annual return over the past five years from a portfolio primarily invested in bonds, shares, real assets and absolute return.
PKA has grown its alternatives portfolio to account for 25 per cent of assets under management, in one of the biggest allocations among the fund’s Danish and European peers.
“There are still some allocations in the pipeline to real estate and infrastructure, but in private equity we are where we want to be,” he says.
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