ATP, Hilleroed, Denmark, posted a 40% return on investments for the nine months ended Sept. 30, on strong results from government and mortgage bonds, which contributed 19.5 billion Danish kroner ($2.9 billion).
An update Thursday said the pension fund's net increase equaled 36.9 billion Danish kroner, compared with a return of 5.8%, or a rise of 6.9 billion kroner, for the nine months ended Sept. 30, 2018.
Assets increased 5.9% to 933 billion kroner from Dec. 31, 2018 and grew 16.7% as compared to the same period in 2018.
In a news release, ATP CEO Bo Foged said the nine-month results were "unusually positive" and expects future returns to be lower with greater fluctuations.
During the period, international and listed Danish equities gained 6.9 billion kroner and 5 billion kroner, respectively.
Private equity added 2.6 billion kroner, while infrastructure and real estate each gained 2.2 billion kroner and 1.8 billion kroner.
Credit contributed 2.8 billion kroner, and inflation-related instruments lost 5 billion kroner. Other investments added 1 billion kroner.