Denmark's LD to seek managers for EUR 4 billion in higher-risk assets
From 2020, Danish pension fund Lønmodtagernes Dyrtidsfond (LD) will manage a new fund with frozen vacation savings. The new fund is estimated to have EUR 11 billion of assets, and around EUR 4 billion of that is expected to be invested in higher-risk assets in the hands of external managers.
New rules on when Danish employees accrue vacation time take effect on Sept. 1 2020, effectively giving workers a double allowance for that first year. As a part of the new regulation, the extra vacation earned by Danish workers in the following 12 months will be put into a new fund in financial form, and invested until retirement.
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