On the tail of several years of stable returns, the financial markets were marked by falling prices in the global stock markets and interest rate increases in the US. ATP’s investment portfolio lost DKK 1.1bn, equal to a return relative to ATP’s bonus potential of -1.0 per cent.

ATP achieved an exceptionally solid return of DKK 29.7bn in the investment portfolio before expenses and tax for the full year 2017, corresponding to 29.5 per cent relative to the bonus potential.

On Wednesday, ATP’s Supervisory Board agreed to nominate Torben M. Andersen, Professor at the Department of Economics and Business Economics at Aarhus University, as new chairman. This follows current chairman Jørgen Søndergaard’s announcement of his resignation.

In Q1-Q3, ATP generated a return in the investment portfolio of DKK 24.6bn before tax and expenses, equivalent to a rate of return of 24.4 per cent relative to ATP’s bonus potential. The return was achieved broadly across the portfolio, but was driven, in particular, by equity investments. For Q3 alone, the return was 8.9 per cent relative to the bonus potential. In the past five years, ATP has delivered an average return of 4.0 per cent per quarter in the investment portfolio and achieved positive returns in 18 out of 20 quarters.