- Internal management
Listed shares:
- Nykredit Asset Management
- Maj Invest
- Goldman Sachs Asset Management
- StateStreet
- abrdn
- C WorldWide Asset Management
- Danske Bank Asset Management
Private equity:
- Altas
- Astorg
- Aurora Capital Partners
- Avista Capital Partners
- SAGA Private Equity
- EQT
- Greenbriar Equity Group
- Hamilton Lane
- Incline Equity Partners
- Investindustrial
- Keensight
- LGT
- Maj Invest
- Montefiore Investment
- Morgan Stanley
- Partners Group
- Mercer
- Quad-C
- TorQuest Partners
- Dansk Kapitalvækst
- Sumeru Equity Partners
- Gro Capital
Credit bonds:
- Capital Four
- Morgan Stanley
- LGIM
- Colchester
- Pimco
- Stone Harbor
- Wellington
Alternative credit:
- KKR
- Alcrentra
- Barings
- Oaktree
- Goldman Sachs
- LCM
- AXA
- ICG-Longbow
- LaSalle
- Madison
Real estate:
- Internal management
- DEAS Property Asset Management
- Fokus Asset Management A/S
- Thylander Gruppen
- Capital Investment
- Actis
- Apollo
- Ares Capital
- Berling Wohnungs Invest
- Bluehouse Capital
- Centerbridge Partners
- Core Property Management
- H.I.G. Capital Partners
- Jamestown
- Madison International Realty
- Morgan Stanley
- Nordic Real Estate Partners
- Patrizia Multi Managers
- SC Capital
- Tishman Speyer
- Walton Street
Infrastructure:
- Copenhagen Infrastructure Partners
- Morgan Stanley
- Actis
- Antin
- Global Infrastructure Partners
- SL Capital
- DigitalBridge
- Hamiton Lane
- JP Morgan
- Blackstone
- Patrizia
Forest:
- International Woodland Company
- Morgan Stanley
- Nordea
- Danske Bank
- Moma Advisors
According to sections 159 and 160 of the Danish Financial Business Act regarding active ownership, P+ must report on the main elements in its equity strategy as well as the use of external asset managent.
P+'s investment strategy is based on Pension-at-Risk analyses which among other things take the expected development in P+'s future insurance-related provisions into account. The analyses are completed for the purpose of meeting the company's long-term commitments to its members.
The analyses result in an asset allocation reflecting the single basis' risk capacity for the purpose of giving the members an attractive long-term risk-adjusted return through investments in shares, bonds and real estate etc.
A substantial part of P+'s equity investments is made through external asset managers. The asset managers' investment strategies are chosen with a view to supporting P+'s investment strategy and aim at contributing with long-term value creation and diversification in P+'s total investment portofolio.
The asset managers' are responsible for investing in the best possible way within the guidelines outlined in a portfolio management agreement, which includes a benchmark, as well as complying with P+'s policy for active ownership. As a part of active ownership and based on principles of corporate governance, especially the ICGN Global Governance Principles and the OECD principles of Corporate Governance, P+ votes as far as possible at listed companies' general meetings where the pension fund is entitled to vote. In case P+'s voting deviates from these principles, and if it is considered relevant, this information is disseminated to the asset managers. An external consultancy assists P+ in voting systematically at listed companies' general meetings.