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 30% 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 ultimo 2023

As of December 31, 2023 PensionDanmark had EUR 42.2 bn under management net of debt. The investment portfolio is invested in broad range of assets covering public and non-public markets.

Assets EURbn
Global Equities 15.3
High Yield Bonds  3.1
Senior Bank Debt  2.2
Emerging Market Debt 2.0
Equities and Credit in Total 22.6
Private Equity 3.7
Mezzanine and Distressed Debt 1.1
Real Estate  4.1
Infrastructure and Renewable Assets 3.5
Alternatives in Total  12.4
European Government and Mortgage Bonds 5.6
Index Linked Bonds 0.7
Investment Grade Corporate Bonds 0.9
Investment Grade in Totals   7.2
Total 42.2