AFRICA/DENMARK - The DKK440bn (US$92bn) ATP fund has confirmed it is considering divesting from mining firm Anglo American over its continuing activity in Zimbabwe.
The spokesperson was also unable to give an exact figure as to the size of the fund's investment in Anglo American.
In a statement, Anglo American said it had been an investor in Zimbabwe for over 60 years and was "deeply concerned about the current political situation in Zimbabwe". It also said the company condemned the violence and human rights abuses which were taking place.
It said the Unki platinum mine project was "a long term investment for a mine which is yet to start production and will not generate revenues for some years" although it was monitoring the situation and "reviewing all options" surrounding the development of the project.
In South Africa, the finance minister Trevor Manuel dismissed rumours of an impending nationalisation of pension savings as "reckless, impossible and unconstitutional".
Rumours of a possible nationalisation appeared in South Africa earlier this year, following the announcement of retirement fund reform in February.
Manuel said there had been reports of workers withdrawing all their pension savings ahead of a possible privatisation.
The minister said he and trade unions would start an education tour to inform workers how best to plan for retirement.
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.