ATP recorded a profit of DKK 3.3bn in Q1 2013
Investment activities produced a profit of DKK 2.9bn and Hedging activities totalled a loss of DKK 0.2bn. The Pension and Administration activities posted results of DKK 0.7bn and DKK 0.0bn, respectively. Unit-linked contracts accounted for DKK 0.0bn. Thus, ATP recorded a profit of 3.3bn in Q1 2013.
ATP’s results for Q1 2013 in DKK million
Results compared with the target for 2013
The ATP Board of Directors has set the long-term target that, over time, hedging and investment-activity results must be sufficient to ensure that pensions are revalued in line with the Retail Price Index (RPI). The goal is laid down independently of the development on the financial markets and thus the opportunities for achieving returns. The performance target is based on the expected rate of inflation and a premium of one per cent, and for 2013 it is set at DKK 13.0bn.
The overall hedging and investment-activity results is considered satisfactory in the light of the challenging market conditions.
ATP has low investment expenses
The level for ATP's investment expenses is low – by Danish as well as international standards. This translates into more benefits for our members.
In Q1 2013, investment-activity expenses, including subsidiaries and external asset management, amounted to DKK 292m which is equivalent to 0.05 per cent of the average assets managed in Q1 2013 – or DKK 61 per member.
Total investment expenses, as stated in the financial statements, amounted to DKK 56m, equivalent to 0.01 per cent of the average assets managed in Q1 2013 – or DKK 12 per member.