Denmark

DENMARK - The Danish Financial Supervisory Authority (DFSA) has said that rate increases constitute the "worst scenario" for the life and non-occupational pension funds.

DENMARK - Nearly one million pensioners and unemployed Danes are losing out to working people as their pensions and benefits lag further behind wages, Danish experts claim.

DENMARK - Pensionskassernes Administration A/S (PKA), Denmark's third largest pension fund, has posted a return of 12.1% for the second quarter, with assets reaching more than DKK100bn (e13bn).

DENMARK - Juristernes og Økonomernes Pensionskasse, the Dkr22bn (e3bn) pension fund for Danish lawyers and economists, is searching for a US$100m US large cap manager.

DENMARK - Bank//Pension, the DKK9.9bn (e1.3bn) pension fund for Danish financial sector employees, has made a foray into real estate with the appointment of one manager and plans to appoint a further two.

DENMARK - The Danish government is to legislate on preventing brokers from accepting commissions from pension insurance companies.

DENMARK - Taking advantage of the buoyant Danish equity market, Danish pension funds have returned to the equity markets, increasing their share in equities, while reducing allocation to bonds.

DENMARK - Bank//Pension, the DKK 9.9bn (e1.3bn) pension fund for Danish financial sector employees, has awarded State Street Global Advisors (SSgA) a US$160m (e119m) global enhanced equity mandate.

DENMARK - The DKK 93bn (e12.5bn) Pensionskassernes Administration A/S (PKA), Denmark's third largest pension fund, has committed US$100m to a Goldman Sachs Asset Management private equity fund.

DENMARK - The eight occupational pension funds within the DKK 90bn (e12bn) Pensionskassernes Administration (PKA) group have posted strong returns in 2004 on the back of historically low interest rates.