Denmark’s Top Pension Fund Buys Weight-Loss Stocks After Run-Up
- ATP adds Zealand Pharma to holdings after 130% rally
- Fund’s investments in obesity stocks up 66% since 2023
Last year, Novo Nordisk A/S helped account for about half of Denmark’s economic growth.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
ATP, Denmark’s biggest pension fund with about $100 billion in assets, is doubling down on its investment in Danish obesity companies, increasing the country’s reliance on weight-loss stocks after a recent run-up.
All Danes are required to contribute to the state-run fund, which has benefited from its holdings in Ozempic maker Novo Nordisk A/S. ATP added Zealand Pharma A/S to its holdings for the first time, purchasing 317,000 shares over the past six months, according to the fund’s earnings statement released on Wednesday.