ATP, Hilleroed, Denmark, posted a 1.8% investment return for the first half of 2023, the pension fund said in an interim report Aug. 29.
In the first six months of 2023, assets increased to 683 billion kroner ($99.9 billion) as of June 30.
In 2022, the pension fund had reported a -40.9% investment return for the full calendar year, with assets falling to 678 billion kroner as of Dec. 31.
ATP CEO Martin Praestegaard said in the latest report that equity markets and hedging interest risks helped put "a difficult 2022 behind us," while alternative asset investments "did not contribute significantly."