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Watchdog criticizes Danica Pension: Needs to improve value assessment of unlisted asset class

The Danish FSA wants Danske Bank's pension unit to improve its investment guidelines for one of its funds and the continuous value assessments of parts of its alternatives portfolio.

Photo: Jens Hartmann Schmidt

The Danish FSA inspected Danica Pension, Danske Bank's pension arm, during the period May – June 2019.

The watchdog concluded that the Danica Pension’s investment guidelines for one of its funds allowed for frameworks that were too broad, meaning there was a risk that clients received a product with a different risk profile than they had been promised.

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