The chief executive of ATP, one of Europe's biggest and best-performing pension funds, says his "biggest concern" is co-ordinated falls in asset prices as the US central bank withdraws its quantitative easing programme.

Carsten Stendevad, chief executive of the Dkr666 billion ($113 billion) Danish public fund, said: "The fact that we've seen some more volatility in financial markets in recent weeks is off the back of a long period of unusually stable returns, across all asset classes.