ATP, Denmark’s biggest pension fund with about USD 150bn in assets, said its investment return rose by two-thirds last year, helped by stocks and inflation hedging instruments.

The return came in at DKK 49.6bn kroner (USD 7.62 bn), up from DKK 29.9bn in 2020, the fund, which is based
north of Copenhagen, said in a statement on Thursday.

The result was “primarily driven by listed as well as unlisted shares, just as investments in inflation-related instruments contributed very positively and offset the negative returns on government and mortgage bonds,” ATP said.

“Uncertainty and fluctuations are expected to continue to affect the markets in 2022, and despite the strong result ATP expects
lower returns in the years ahead.”

The state-mandated fund last month said it will invest in riskier assets after getting government approval to move forward with the strategy to give savers a better return.

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