Danish Pension CEO Announces Exit Plans
Fund says early warning gives ‘plenty of time’ to find a successor.
Fund says early warning gives ‘plenty of time’ to find a successor.
ATP loses 3.2% of investment portfolio, due to global stocks and interest rates.
Jens Munch Holst says resigning exec Borgen should not remain at bank until a new chief is found due to money-laundering scandal.
Private equity helps boost Danish pension fund’s market value to more than $47 billion.
Real estate and private equity do OK, while stocks and bonds suffer.
Fund says the bank’s developing money laundering scandal violates its responsible investing policy.
ATP needs higher returns to meet future needs of population, with newborns adding 2-4 years to projected lifespans.
Committee is curious about more opportunities in digital regulation.
Responsibilities will be divided between two newly created independent companies.
Fund adds $4.9 billion for total assets of $126.9 billion.
Deal expected to close H1 2018.
Regulations still needed for new pension type to take effect.
Fund’s return is the highest quarterly return in five years.
Investments returned 14.6%, giving the fund its best half-year performance in five years.