Danish pensions body counters political pressure to invest for growth

first_imgDanish pension funds have already invested DKK220bn (€29.5bn) in Danish business and are keen to help create more growth in the domestic economy, according to industry association Forsikring & Pension (F&P).But the risk of such investments has to match the return, it insisted. The association’s chairman Christian Salgild told F&P’s annual meeting: “All my warning lights start to flash when the political side proposes that pension funds invest in companies and sectors considered risky by banks and the FSA, while at the same time those businesses are making big investments in production and jobs abroad.”However, his main message should not be misunderstood, he said. He said the pensions and insurance industry already contributed very significantly to investment and growth in Denmark and wanted to step up efforts, as long as the return matched the risk.New figures from F&P show the pension funds have DKK220bn invested in Danish business.Of this, DKK125bn was in property, DKK85bn in shares, corporate bonds and loans, and DKK10bn in infrastructure, wind energy and public-private partnerships (PPPs), according to the association’s data, covering 85% of the pensions market. “I understand politicians’ desire for more pensions money to go into Danish companies,” said Salgild. But politicians also have to understand the world in which pension funds operate, he said.“We are obliged – legally, too – to safeguard pension savers’ interests first and foremost,” he said.Sagild said the problem facing investment and growth in Denmark was not that Danish companies were caught in a credit crunch.The main problem was rather that the Danish economy was growing too slowly and that Denmark was not nearly as attractive an investment location as other countries.“In a globalised world, it is first and foremost the cost level that determines where companies place their production,” he said.“And this, therefore, also determines which countries and regions will experience growth and increased employment.”last_img read more

West Ham axe manager Pellegrini after Leicester defeat

first_img “Joint-Chairmen David Sullivan and David Gold, along with the Board and everyone at West Ham United, would like to place on record their thanks to Manuel for his service over the past 18 months.” Read Also: EPL: Calvert-Lewin brace hands Everton win at Newcastle Mr Sullivan said: “It is with great disappointment that we’ve had to make this decision. Manuel is a gentleman and it has been a real pleasure to work with someone of his calibre. “However, it has become clear that that a change is required to get the Club back on track in line with our ambitions this season. We felt it was necessary to act now in order to give the new manager as much time as possible to try and achieve that goal.” David Moyes is the early front-runner with the bookies to return to the Hammers. FacebookTwitterWhatsAppEmail分享 West Ham United have sacked manager Manuel Pellegrini after their home defeat to Leicester . The Hammers went down 2-1 at the London Stadium to a Foxes side who made nine changes from the side that lost 4-0 at Liverpool on Boxing Day. Manuel Pellegrini has been sacked as West Ham United manager The result saw West Ham equal their club record run of four successive home defeats in the Premier League having also lost out to Arsenal , Tottenham and Newcastle in recent weeks. It leaves them 17th in the Premier League table with just one win in five and hovering just a point off the relegation zone. It was enough to prompt club bosses to part with former Premier League title winner Pellegrini after 19 months at the helm. A club statement read: “West Ham United can confirm that Manuel Pellegrini has left the Club with immediate effect.Advertisementcenter_img Loading…last_img read more