The first half of 2026 was marked by the escalated conflict in the Middle East and rising energy prices. ATP's guaranteed pensions are intact, and with a return of 14.5 per cent in the investment portfolio, ATP is financially strong. The long-term return since 2008 is 10.9 per cent on average per year.

Geopolitical tensions became defining for fluctuations in the financial markets in 2025, and global unpredictability was once again a basic condition. ATP's guaranteed pensions are intact, and with a return of 19.5 per cent in the investment portfolio, ATP is in a good financial position after 2025. The long-term return since 2008 is 10.4 per cent on average per year.

Globally, the first six months of the year were marked by global tariffs causing uncertainty about the economic outlook for the future, as well as by rising equity prices in much of the world. ATP’s guarantees have been, and remain, intact, and the result in ATP’s investment portfolio delivered a return of 6.7 per cent relative to the bonus potential during the six-month period and helped strengthen ATP’s reserves. 

Interest rate hikes in the fourth quarter, in particular, had a decisive impact on the return in ATP's investment portfolio and thus on ATP's result for 2024. Over the past 10 years, the total annualised return to members has been DKK 11.6bn.