Velliv, Ballerup, Denmark, has had nine members of its investment team resign following the closure of its alternatives and active equities divisions as it plans a new investment strategy, according to an emailed statement to Pensions & Investments.
Velliv had assets of 276 billion Danish krone ($41 billion) as of Dec. 31, 2023.
“We will spend more time on the dynamic strategies where we believe we can make a difference — instead of spreading ourselves too thin,” the statement said. “Going forward our alternatives will make up a smaller portion of the portfolio, and with a core of indices we will significantly reduce costs.”
One confirmed departure from Velliv is Sandra Metoyer, head of sustainable investments. She had been at Velliv since March 2022, and a replacement for her position has not been named.
In an investment outlook published in January, Velliv claimed that bonds seem undervalued, while we stocks were “priced on the higher end of the scale,” particularly for large U.S. companies.
In November, Anders Stensbol Christiansen stepped down as chief investment officer of Velliv after seven years in the position, with a replacement CIO yet to be named.
