DENMARK - The DKK30bn (US$6.3bn) AP Pension is planning to allocate a further $20m to private equity fund ECP Africa, according to MandateWire.
Claus Buchwald Christjansen, investment manager at AP Pension, who visited Africa at the beginning of the year to look at the new investment possibilities, said economic development on the continent was continuing and therefore investment opportunities would arise in the future.
In addition, AP Pension continues to see value in equities, despite declining markets and worries about pension reserves being used up. "We stand by the idea to actually buy more shares, because now they are cheap," director Søren Dal Thomsen said. "We are glad that we have got such a great reserve that we haven't been forced to sell out of our shares."
Thomsen also believes that the markets will eventually recover. "We must live with the decline in the share markets. It has happened 11 times since World War II, the latest in 2001-02. And every time the share markets have gone up again. There is no reason to think that it won't happen again," he said.
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