DENMARK - Danish fund manager ATP posted a DKK10.5bn (US$1.2bn) profit on its investments and hedging activities in the first quarter, with a large chunk of investment returns coming from domestic equities.
ATP said its equity exposure brought in DKK4.8bn, but DKK3bn came from domestic equities alone.
During the first quarter, the OMX Copenhagen Index was up 13%, versus the S&P 500 index and the MSCI All World index, which were up 5% and 3% respectively.
ATP's hedging activities resulted in a profit of DKK2.3bn as a result of widening spreads between domestic and European long-dated swap rates.
ATP's total assets reached DKK75.4bn at the end of March.
ATP's reserves rose by DKK10.5bn in Q1 2010, to a total of DKK75.4bn at the end of Q1.
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