PensionDanmark's primary objective is to build a well-diversified portfolio with an attractive risk-return profile and good downside protection.
We have a long term focus and believe diversification, through effective portfolio construction, is fundamental in achieving our investment objective.
We combine traditional investments in public markets with less-traditional alternative investments to diversify risk and harvest illiquidity premiums.
Our approach to investment opportunities and markets is value orientated and contrarian with an emphasis on quality.
A special focus area is alternatives with stable attractive cash flows. Approximately 25% of the portfolio is allocated to direct investments in infrastructure and renewable assets, real estate and direct lending.
We manage the majority of our investments internally. Depending on the nature and complexity of the asset class, and whether we believe active management will add value, a smaller or larger part is outsourced to external managers.
Allocation of Assets 30 June 2018
As of 30 June 2017 PensionDanmark had EUR 29,3 bn under management net of debt. The investment portfolio is invested in broad range of assets covering public and non-public markets.
|High Yield Bonds||1.5|
|Senior Bank Debt||1.7|
|Emerging Market Debt||1.3|
Equities and Credit in Total
|Mezzanine and Distressed Debt||0.4|
|Infrastructure and Renewable Assets||2.9|
|Alternatives in Total||6.8|
|European Government and Mortgage Bonds||7.0|
|Index Linked Bonds||1.0|
|Investment Grade Corporate Bonds||0.5|
|Investment Grade in Totals||8.4|
Gross assets under management including debt amounts to EUR 32bn.