U.K. Exporters Are the Big Bet for This $7.4 Billion Danish Fund
ByThe U.K.’s vote to leave the European Union and the plunge in the pound is opening opportunities for Denmark’s largest independent asset manager.
As the turmoil slowly settles from the June 23 shock vote, the 50 billion-krone ($7.4 billion) Formuepleje fund is looking to unwind exposure in longer maturity Danish mortgage bonds and to snap up shares in U.K. exporters.
“It is a setback on the political side, a major, important one, and there will be an impact on the economy especially in the U.K.,” said Soeren Astrup, a director at Aarhus, Denmark-based Formuepleje. “But will this change investors’ beliefs and thinking about risk? No. It’s just another contribution to volatility in a market that has been quite volatile. In such a market there are also opportunities.”…
U.K. Exporters Are the Big Bet for This $7.4 Billion Danish Fund
