Investment Managers

PKA’s investment office manages the investments in Danish and European bonds, Danish stocks and real estate. A part of investments is outsourced to financial institutions, primarily abroad. This is true for foreign stocks, corporate bonds, bonds in emerging markets (new markets), unlisted stock investments, real estate and forest. All these areas are characterized by requiring considerable resources in order to achieve the best possible knowledge of the market, which is necessary in order to create the best possible return.

The external investment managers are:

Listed Foreign stocks

 Nordamerika - QMA, AXA Rosenberg and Goldman Sachsldman Sachs
 Europa - BlackRock and QMA
 England - Goldman Sachs
 Emerging markets - PanAgora, DCF Fund Baltic States, Lazard and QMA
 Stillehavet ekskl. Japan - AXA Rosenberg
 Japan - State Street, QMA and Taiyo

Listed Domestic Stocks

 Nordea Investment Management

Foreign unlisted stocks

 Foreign Funds:
    Bankinvest, Amber, Cross Atlandtic Partners, Hambro, Care Capital, Arsenal, Cinven, Triton, TH Lee, Partners Group,
    Actis Emerging Markets, Lindsay Goldberg, Aureos Africa, and LD

Foreign Fund-Of-Funds:
    Danske PEP, Pantheon, Partners Group, Goldman Sachs, Spur Ventures and Landmark Equity Partners

Danish unlisted stocks

 Axcel, Bank Invest, Odin and LD

Foreign real estate forest and infrastructure

 Real estate:
    JPMorgan, European Property Investors, BPT Arista and Det Tyske Ejendomsselskab

 Forest:
    Hancock, Campbell, RMK Timberland Group, Viking Timber Fund, Pickwick Forrest, Fund Southern Cone Timber,
    Endradour, Campbell, Greenwood, Timbervest Partners, Global Forrest Partners,Capricorn Forrest Fund, Eastern
    Timberland, Brookefield, GreenGold and Latin American Fund

 Infrastructure:
    Energy Capital Partners, European Clean Energy, Macquarie European, LS Power, AIG Highstar Capital,
    Morgan Stanley Offshore and Tenaska Power Fund

Corporate bonds with low credit rating

 Global corporate bonds:
    Muzinich via SEB AM, RiverSource via SEB AM, Mackay Shields via Nordea Investment, Management and TRP

Foreign bonds

 Emerging market bonds:
    PIMCO, BlueBay, JP Morgan AM, Jyske Invest and Threadneedle

Leveraged Loans

 PIMCO, HarbourMaster Invesco and MandG

The investment department in PKA consists of 21 people, working within three areas, namely bonds, stocks and strategy and real estate.