Danish fund cuts equities by €1.1bn

The €31.2bn ($31bn) Danish Labour Market Supplementary Pension Fund, ATP, has cut its equity holdings by €1.12bn, or 8% of its equity allocation.

The decision to reduce its strategic asset allocation in equities from 45% to 35% was taken because of the volatility in the equity markets, said Bjarne Graven Larsen, chief investment officer.

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