Danish academics pension fund plans to keep equity overweight going into 2021

Denmark's P+ has kept an equity overweight since March and plans to maintain it going into 2021, new CIO Kåre Hahn Michelsen tells AMWatch in an interview. In 2021, P+ also intends to increase unlisted holdings and further enhance its emphasis on ESG.  

Kåre Hahn Michelsen, CIO at P+. | Photo: PR/P+

On March 11, Kåre Hahn Michelsen for the first time stepped into the premises of the academic pension fund P+ as the fund's new chief investment officer. At that time, financial markets were more volatile than ever, and the year to date return at P+ was about to hit a -17 percent bottom.

That same day, Denmark's Prime Minister Mette Frederiksen closed down Denmark. Consequently, on his second day of work, Michelsen was sitting at home.

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