ATP, Hilleroed, Denmark, posted a record 39.7% net return on investments for 12 months ended Dec. 31, boosted by strong results in all asset classes.
An update Thursday said the pension fund's net increase equaled 33 billion Danish kroner ($4.9 billion), compared with a loss of 3.7 billion kroner, for the 12 months ended Dec. 31, 2018.
Assets increased 12.5% to 885.6 billion kroner in the 12 months ended Dec. 31 vs. a 2.2% increase the previous year.
Bo Foged, CEO of ATP, said the pension fund's ability to take advantage of favorable market conditions drove its best ever annual result.
"The record return is a result of many years of focused efforts to optimize the portfolio construction and the market risk level, which have strengthened the basis of ensuring the real value of our members' pensions," Mr. Foged said in a news release accompanying the update.
During the period, international and listed Danish equities gained 9.3 billion kroner and 8.1 billion kroner, respectively.
Government and covered bonds added 12.7 billion kroner.
Private equity added 3.5 billion kroner, while infrastructure and real estate each gained 2.6 billion kroner and 2.1 billion kroner, respectively.
Credit contributed 3.9 billion kroner, and inflation-related instruments lost 2.4 billion kroner. Other investments added 850 million kroner.
