Annual Report IPF 2021 - Flipbook - Side 12
INDUSTRIENS PENSIONSFORSIKRING A/S
Table 9
ANNUAL REPORT 2021
INVESTMENT ACTIVITIES
Distribution of asset types
Exposures carried
forward
2020
Asset type
Exposures carried
forward
2021
DKK mill.
%
DKK mill.
%
39,699
19.9
27,587
11.8
8,685
4.4
11,543
4.9
Emerging-market bonds
15,918
8.0
22,433
9.6
High-yield bonds
10,885
5.5
13,094
5.6
Investment-grade bonds
10,659
5.3
8,861
3.8
Danish shares
15,062
7.6
18,194
7.8
Foreign shares
42,840
21.5
56,686
24.2
Unlisted shares
21,766
10.9
33,523
14.3
9,967
5.0
11,015
4.7
17,279
8.7
19,269
8.2
Other strategies
102
0.1
682
0.3
Money market*
4,620
2.3
10,565
4.5
Strategic hedging
1,928
1.0
763
0.3
199,409
100.0
234,214
100.0
Gilt-edged bonds
Other credit
Properties
Infrastructure
Total
*Calculated as bank deposits + market value of derivative financial instruments
Investment assets
Investment assets valued for accounting purposes
rose from DKK 204 bn. at the end of 2020 to DKK
233 bn. at the end of 2021. If derivative financial
instruments with a negative value and
outstanding transactions and interest receivable
are included, the net exposures to investment
assets amounted to DKK 234 bn. at the end of
2021, against exposures of DKK 199 bn. at the end
of 2020.
On www.industrienspension.dk there is a list of
investments made by Industriens Pensions.
12
