You Invest

You Invest is for the customer who wants to take personal responsibility for how their pensions are invested. You can choose from a broad selection of different funds that, for example, invest in shares, bonds, real estate and commodities. We recommend that you have extensive knowledge of investments and have the time and desire to learn all about the opportunities and risks that the different markets have to offer.

You Invest  

With You Invest, you will have the full responsibility for your savings which you will invest in several funds that PFA has chosen. This means that you will be responsible for making the investment choices to grow your savings.

You will have access to a number of tools such as the investment portal FundCollect where you can find information about the various funds and make analyses.

You can monitor your trades at My PFA

 

Different funds

You Invest consists of different funds that cover a wide range of investment opportunities. The funds can be either actively managed or passively managed, the latter also being known as index funds.

In an actively managed fund, the objective is to generate returns higher than those generated by the underlying market the fund invests in. This could, for example, be the fund, BankInvest Højt Udbytte Aktier (High Return Shares), which is a fund managed by an external asset manager. 

In a passively managed fund, the target is to generate a return that highly reflects the return from the underlying market that the fund invests in. The costs associated with passively managed funds are also typically lower than those of actively managed funds. You can recognise these funds by the ‘PFA Indeks’ in their names. The fund's returns may deviate more from the benchmark returns than is typical for an index fund, as a comprehensive ESG screening of the companies' ESG profiles is conducted, i.e., their social, governance, and environmental impacts. The ESG screening may, for example, result in the exclusion of companies on PFA’s exclusion list or those with an ESG score below a minimum level set by PFA, as well as certain countries or sectors, either partially or entirely, from the portfolio. As mentioned, this can lead to significant deviations between the fund's returns and its benchmark, i.e., the returns from the underlying market. 

Most of the funds are share funds. There are both global share funds and funds that invest in a specific region or individual country. There is also a single sector fund, dealing with the healthcare sector.

There are also several bond funds where you can, for example, invest in traditional Danish bonds or in index-linked bonds. In both types of funds, the returns will be influenced, among other things, by the development of inflation. Additionally, you can invest in bonds from Emerging Markets or in corporate bonds with varying degrees of credit quality.

Finally, there are also some special funds that allow you to invest in commodities and real estate.

Invest your savings with a focus on selected sustainability themes

If you want to invest your savings with an extra focus on sustainable social development, you can invest via ‘You Invest’ in four funds, each of which focuses on a selected theme within sustainability:

  • Sustainable water (RobecoSAM Sustainable Water Equities)
  • Circular Economy (RobecoSAM Circular Economy Equities)
  • Biodiversity (RobecoSAM Biodiversity Equities)
  • Gender Equality (RobecoSAM Global Gender Equality Equities)

  

The thematic focus provides a more limited investment universe, and the funds are therefore intended for you, who can accept a lower return in return for investing with a focus on positive changes within the funds’ special themes. In any case, you must expect that the return from the fonds will vary more from the return in the global stock index (MSCI) than PFA’s broad investment products.

The three funds which focus on sustainable water supply, circular economy and biodiversity respectively, are all fully sustainable according to the EU’s Disclosure Regulation Article 9, while the fourth fund which focuses on gender equality is partially sustainable according to the EU’s Disclosure Regulation Article 8. Below, you can read more about the four funds which are all managed by the external manager, Robeco Institutional Asset Management B.V., which is one of the leading managers in the area of sustainability.

Learn more about each individual fund

Sustainable water supply: RobecoSAM Sustainable Water Equities

The fund invests in global shares through approx. 80 companies that are leaders in clean safe and sustainable water supply. The companies are selected on the basis of fundamental company analysis and an internally developed model that measures the companies’ contribution to the UN’s 17 Sustainable Development Goals.

The fund is fully sustainable, cf. EU’s Disclosure Regulation Article 9, which is why it has sustainable investment as is goal with a minimum proportion of sustainable investments of 90 %.

The fund’s benchmark is the MSCI World Index TRN. The benchmark is a broad market-weighted index that does not support the sustainable objectives of the fund. The majority of the selected companies will thus be components from a defined and justified investment universe which the manager has defined and not components from the benchmark. The fund’s return can therefore be expected to deviate significantly from the benchmark return.

The funds ongoing costs on You Invest:  1.33 %
Entry and exit costs: 0.18 % / 0.13 %

Read more about the fund by clicking on RobecoSAM Sustainable Water Equities in the fund list below

 

 

Circular economy: RobecoSAM Circular Economy Equities

The fund invests in global shares through approx. 70 companies that are leaders in solutions for the paradigm shift to a circular economy. The companies are selected on the basis of fundamental company analysis and an internally developed model that measures the companies’ contribution to the UN’s 17 Sustainable Development Goals.

The fund is fully sustainable, cf. EU’s Disclosure Regulation Article 9, which is why it has sustainable investment as is goal with a minimum proportion of sustainable investments of 90 %.

The fund’s benchmark is the MSCI World Index TRN. The benchmark is a broad market-weighted index that does not support the sustainable objectives of the fund. The majority of the selected companies will thus be components from a defined and justified investment universe which the manager has defined and not components from the benchmark. The fund’s return can therefore be expected to deviate significantly from the benchmark return.

The funds ongoing costs on You Invest: 1.33 %
Entry and exit costs: 0.19 % / 0.13 %

Read more about the fund by clicking on RobecoSAM Circular Economy Equities in the fund list below

 

  

Biodiversity: RobecoSAM Biodiversity Equities

The fund invests in global shares through approx. 80 companies that support the sustainable use of natural resources and solutions that promote biodiversity. The companies are selected on the basis of fundamental company analysis and an internally developed model that measures the companies’ contribution to the UN’s 17 Sustainable Development Goals.

The fund is fully sustainable, cf. EU’s Disclosure Regulation Article 9, which is why it has sustainable investment as is goal with a minimum proportion of sustainable investments of 90 %.

The fund’s benchmark is the MSCI World Index TRN. The benchmark is a broad market-weighted index that does not support the sustainable objectives of the fund. The majority of the selected companies will thus be components from a defined and justified investment universe which the manager has defined and not components from the benchmark. The fund’s return can therefore be expected to deviate significantly from the benchmark return.

The funds ongoing costs on You Invest: 1.38 %
Entry and exit costs: 0.24 % / 0.13 %

Read more about the fund by clicking on RobecoSAM Biodiversity Equities in the fund list below

 

  

Gender Equality: RobecoSAM Global Gender Equality Equities

The fund invests in global shares through approx. 70 companies that are leaders in gender diversity and gender equality. The companies are selected on the basis of an internally developed, quantum-based gender scoring methodology, where the companies are evaluated based on 38 criteria within diversity, including diversity in management positions, talent retention, equal pay (among other factors).

The fund promoted environmental and social goals, cf. EU’s Disclosure Regulation Article 8. The fund thus does not have sustainable investment as its goal but has a minimum proportion of sustainable investments of 50 %.

The fund’s benchmark is the MSCI World Index TRN.

The funds ongoing costs on You Invest: 1.23 %
Entry and exit costs: 0.12 % / 0.07 %

Read more about the fund by clicking on RobecoSAM Global Gender Equality Equities in the fund list below

 

  

 
This is how you get access to the funds in You Invest

You can choose to invest in the funds if you have access to You Invest via your pension scheme. You must take the

nvestment Guide on MyPFA to gain access to You Invest and thus the new funds with a sustainability focus.

Costs and return expectations

Ongoing costs and entry and exit costs are market compliant and can be seen under the description of each individual fund. There is not yet an appropriate benchmark for the four funds and due to the narrow and concentrated portfolios one must expect that the return will differ significantly from, for example, the global stock index, the MSCI ACWI.

About the manager Robeco Institutional Asset Management B.V.

The manager, Robeco Institutional Asset Management B.V., was one of the first asset managers in the world to develop a model that can measure the effects of the UN’s 17 Sustainable Development Goals on investment portfolios. The manager is recognized for having a strong quantitative, i.e. analytical and data-driven, approach to sustainable investments and integration of sustainability risks in investment decisions, and they themselves process large amounts of sustainability-related data using in-house developed models. The manager has a wide selection of funds with a sustainability focus and is considered to be one of the leading asset managers within this field.

Sustainability data

You can find sustainability data from the individual funds in the fund overview below. You can find the funds’ sustainability categorisation in the ‘Sustainability-related information’ tab and you can also find more information in the documents under the ‘Materials’ tab.

 

You Invest – terms and conditions

In You Invest, you can select the PFA funds as shown in the table below. These may consist of individual securities, cash and/or underlying funds. An underlying fund may be managed by an external asset manager. PFA cannot ensure that the policy for responsible investments is used and complied with when investing in funds, that are not managed by PFA, through ‘You Invest’.

The value of PFA funds and underlying funds may differ
In cases, where PFA funds include underlying funds, these may be included when calculating the value of the PFA funds in My PFA with values other than the official net asset value of the underlying funds, which can be seen on other websites, including the external manager’s. This is due to the size of the cash portfolio and the time of valuation, amongst other things.

The value of PFA funds in My PFA and on the You Invest website may differ
In My PFA, you select PFA funds at prices set by PFA. Prices are based on trading price calculated by PFA on an ongoing basis. Trading price can only be seen in My PFA when the selection process is completed. Trading price may vary throughout the day and cannot be directly compared with the values of the PFA funds shown on the You Invest website. This is because the values on the website are not calculated using the same method as the trading price. Differences will be greater short-term and will not have a significant impact over a longer time horizon.

The index of comparison shown is not the benchmark of the underlying fund
The index of comparison shown is delivered by external data providers, cf. the text below, and represents the median return of funds placed in the same category as the given fund, by the data provider. The median return is calculated daily and does not represent the return of a specific fund.

Costs
A selected PFA fund may be subject to an emission fee on purchase and a redemption deduction on sale. If so, this will be shown in the estimate for the selected investment (the "receipt") that you approve in My PFA when making your selection. Emission fees and redemption deductions can be seen under "costs" in My PFA.

External data provider
Historical returns and other PFA fund data on the website are provided by an external data and analysis provider. The data is based on the official net asset values of relevant underlying funds, or on net asset values calculated by PFA. Therefore, the values and returns for PFA funds on the website cannot be directly compared to the values and returns that you see based on the PFA funds in My PFA.

Applicable terms
All terms can be found in the Terms and conditions of pension for PFA Plus. In the event a discrepancy is found in the information on the website and the pension terms, the latter applies.