One of the biggest Nordic pension funds is shunning the U.K. real estate market after adjusting its portfolio for the risk of a no-deal Brexit.
Anders Damgaard, chief financial officer at the $113 billion PFA Pension fund in Copenhagen, said the U.K. now looks “particularly risky.” PFA won’t raise its exposure to real estate in Britain until there’s more clarity on how Brexit talks will end, he said by phone on Monday.
The decision to avoid British property comes even as Denmark’s biggest commercial pension fund is trying to expand its real estate portfolio. In August, it spent more than $1 billion on property in Germany, and PFA wants to increase its real estate portfolio to more than $9 billion.
“The strategy is to do more direct investing, where we feel we have the skill set,” he said. “And for now that’s in Denmark and the EU.”
Source: Bloomberg Finance L.P.
Picture: pixabay.com
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.