ATP fully wipes out corona losses in Q3'20
Danish pension fund ATP recovered from the coronavirus crisis in the third quarter of 2020. As of 30 September 2020, its portfolio returns before tax for the nine first months of the year amounted to DKK 5.2bn (€0.7bn or 3.6%). ATP recovered from its DKK 11.6bn (€1.55bn) loss recorded at the end of June.
The Danish pension scheme said that investments in government and mortgage bonds and in listed Danish equities made positive contributions to the returns, while listed international equities posted the highest negative returns. “For many years, we have worked with processes and risk management in a targeted manner. This has been a strong contributing factor in allowing us to navigate through the worst crisis on the financial markets in modern times. Even if one should be careful about looking at individual quarters when you are a long-term investor such as ATP, I am satisfied with how we, despite the drastic declines on the financial markets in the beginning of the year, have managed to create positive returns for 2020 so far,” commented Bo Foged, CEO of ATP.
Also, ATP’s members contributed DKK 7.9bn (€1.07bn) over the period running from January to September 2020. The pension scheme paid out DKK 12.9bn (€1.73bn) in pensions and lump sum payments. ATP had assets under management of DKK 936.1bn (€125.7bn) at the end of Q3’20.