Industriens Pension adds derivatives to guard against halting markets

The Danish labour-market pension fund has been actively making tactical changes to its investment portfolio to protect investment gains it made over the last few years. Both equity and bond markets are set for a bout of weakness six to 12 months from now, though a real crash is unlikely, predicts Morten Kongshaug, the fund’s investment strategist.

Photo: /ritzau/AP/RICHARD DREW/Arkiv

While reaping the rewards of this year's continued bull market – in equities in particular, Industriens Pension has also been busy battening down the hatches financially. Moves have been made in preparation for what the fund sees as an inevitable weak phase coming three to six months down the line.

"On Jan. 1, we moved up in emerging markets, so that was a really good investment, but we are still surprised to see how far this market has come," Morten Kongshaug, investment strategist at Industriens Pension, tells AMWatch.

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