The number of pension customers at Danish pension company PFA opting to select their own pension investment funds has doubled over the past 18 months.

The amount of funds invested in PFA's self-selected fund universe, Du Investerer, has also doubled in the same period, from DKK 14bn to more than DKK 28bn.

Du Investerer is an add-on to PFA’s standard savings universe, PFA Investerer, in which PFA manages the investments, and customers select their preferred risk level and climate profile.

With Du Investerer, however, customers can decide exactly which funds their pension savings are invested in. And while most still opt for a mix of both approaches, many are showing strong interest in taking a more hands-on role.

"Danes have become more engaged in their pensions and investments, and more want to have a say in what they invest in. This is clear when we look at the number of customers and customer funds in Du Investerer, which has doubled in just a year and a half," PFA chief strategist, Tine Choi Danielsen, said.

However, according to Choi Danielsen, many people understand and value that their pension savings are what they will depend on in the future. For that reason, most choose to “spread their risk” and take only a small part of their savings “into their own hands”.

In response to rising demand, PFA has been expanding the range of investment funds available through the platform. Two additional options were recently introduced: a currency-hedged index fund designed to limit exposure to exchange-rate movements, and a fund centred on gold, silver and mining companies.

"Gold, silver and currency hedging are themes that have come into focus due to developments in the global economy, partly as a result of US policy. This has led to increased interest from customers who want to invest in these areas," Choi Danielsen explained.

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