Denmark’s PKA goes for wind farms
The top-five Danish pension fund, PKA, has made a bigger push into alternatives than its peers, and a good chunk of that allocation comes from direct investment in offshore and onshore wind farms.
The top-five Danish pension fund, PKA, has made a bigger push into alternatives than its peers, and a good chunk of that allocation comes from direct investment in offshore and onshore wind farms.
With its new survey of asset owners, the Principles for Responsible Investment hopes to learn ways to help an incredibly diverse range of signatories build true value for their beneficiaries.
The workplace pension asked its members what they wanted during the decumulation phase. The answers led to a default product that aims for assurances in older age, while still offering options.
Denmark’s $126.9 billion ATP has excelled using allocations to risk factors such as interest rates and inflation, along with frequent tinkering – all based on a robust decision-making process.
In the GFC, many investors got burned as limited partners, by costly experiences and opaque strategies. To fix the damaged relationships, a focus on disclosure and aligned interests is essential.
The Third Swedish National Pension Fund has cut back on hedge fund managers, citing cost, poor returns, and difficulty pinpointing the source of alpha for managers that have done well.