Danish pension provider ATP has returned DKK 29.6bn in the first half of 2019, it has revealed.

Publishing its H1 results, the provider noted that the period was dominated by declining interest rates, both in the US and Europe, and by upticks in global equity markets.

The hedging portfolio covered increasing guaranteed pensions and the investment portfolio realised a return of DKK 29.6bn before expenses and tax.

Primarily government and mortgage bonds and international and Danish listed equities contributed to the historically high return for H1, contributing, respectively, DKK 14.5bn, DKK 6bn and DKK 4.4bn.

Commenting, ATP CEO Bo Foged, said: ”We have achieved a highly satisfactory return for ATP’s members. Uncertainties regarding the development in both the interest and equities markets require, however, that we continue with disciplined risk management and portfolio construction. This is essential for our ability to also produce satisfactory results in the long term.”

Over the past five years, ATP has realised an average annual return of 16.4 per cent relative to the bonus potential. In H1 2019 ATP realised a return of 32.1 per cent. The investment portfolio has seen positive returns in 17 of the previous 20 quarters.

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