DENMARK - Danish pension fund giant ATP is looking at launching further into China, after its chief executive returned from a trip to the country earlier this week.
Rhode said: "I was last in China four years ago and this time was very different.
"The growth of investment in China is amazing. It is on a scale that is very difficult for most of us [from smaller countries] to understand. The pace with which they are moving is also astonishing," he added.
PKA, which invests on behalf of several industry pension funds, is also be looking to stretch further eastwards.
Nils Ladefoged, portfolio manager, PKA, said it had outsourced its emerging markets investments including China to external investment managers as part of its equity outsourcing strategy.
"Currently our emerging markets managers only invest in the China H-share market but one of our managers has applied for a quota (QFII - Qualified Institutional Investor) to enable [PKA] to invest in local A-shares," Ladefoged said.
Africa has also sparked the interest of both funds.
Rhode at ATP commented: "It is quite tricky to get into, but maybe Africa will be the next country to move quickly."
Ladefoged was more cautious: "Africa is an interesting story, but we get a little hesitant when something has risen as much as many of the African stock markets have."
Jan Eggertsen, director for business development in the north EMEA region, T. Rowe Price, said even smaller pension funds in Denmark were seeking to 'catch up' from being what they saw as underweight in emerging markets.
But Eggertsen said a direct approach such as that ATP was contemplating was rare.
He added: "For funds such as ATP which separate alpha and beta, a single country strategy could be interesting, but mostly investors opt for a regional or global approach encompassing emerging markets."
Richard Tyszkiewicz, consultant, bfinance, agreed: "ATP is so large and sophisticated it can break investments down into smaller pieces and be more adventurous.
"We have certainly seen an increase in emerging markets mandates, especially on an unconstrained equity basis."
At the end of 2007, ATP held DKK6.5bn in emerging market equities which produced a 24.2% return over the 12 months.
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