(1) A higher proportion is invested in Danish shares than the proportion they represent in the global equity market. PFA does this because market knowledge and proximity make a difference and investments in Danish companies benefit the Danish economy. Returns on Danish shares may be higher or lower than returns on global shares.

(2) In PFA Plus and PFA Climate Plus, PFA can adjust the investments in both the long and short term. In the long term, this may involve, for example, changing the composition of the portfolio. In the short term, it may involve, for example, increasing or reducing the proportion invested in shares or reducing investments in the US technology sector. In PFA Indeks Plus, fixed market indices are followed and the portfolio composition remains constant. In general, different returns should be expected from the three products.

(3) Unlisted investments include, for example, property, private equity and infrastructure. This provides both risk diversification and the opportunity for higher returns. However, returns may be higher or lower than those on listed shares and bonds.

(4) Currency hedging is used, for example, to seek protection against significant fluctuations in exchange rates. This may involve a cost. Returns may therefore be higher or lower compared with global shares without currency hedging.

(5) Risk management enables PFA’s investment experts to continuously adjust the investments to the current global situation, for example by providing protection when the economy experiences major shocks. There is no guarantee that risk management will generate higher returns.

(6) Active management is used where PFA believes it can create value. This applies, among other things, to Danish shares and bonds, because market knowledge and proximity make a difference. There is no guarantee that active management will generate higher returns.

(7) Returns on PFA Indeks Plus may fluctuate more in the short term than returns on PFA Plus. This applies in both a positive and a negative direction. This is partly because the currency risk associated with shares is not hedged.

(8) You can find the prices of the individual funds in PFA Plus, PFA Indeks Plus and PFA Climate Plus under Cost and prices. You can always view your specific costs on mitpfa.dk.

(9) Article 8 product Read more under sustainability-related information. PFA Climate Plus has a slightly lower long-term expected return than PFA Plus due to a more limited investment universe. In practice, however, it may be either higher or lower.

(10) Primarily by focusing on the green transition.

Read more about PFA Plus, PFA Index Plus and PFA Climate Plus, as well as Asset allocation and Returns in PFA.