Danish Pension Profits Plunge as Investment Returns Decline
Danish pension industry profits fell 80 percent to 3.8 billion kroner ($633 million) in 2011 as investment returns fell and costs rose, the Financial Supervisory Authority said.
Investment returns declined by 30 billion kroner to 128 billion kroner amid turmulence in the financial markets, the Copenhagen-based agency said in an e-mailed statement today. Costs climbed 9.6 percent, it said. Total pension savings rose by 245 billion kroner to 2.64 trillion kroner, or 1.5 times as large as the Danish economy, the FSA said.
To contact the editor responsible for this story: Frances Schwartzkopff at email@example.com