Defence Investments on the Rise
Danish pension fund PFA has seen a significant increase in defence sector investments, with a near tenfold rise since the start of the Russia/Ukraine war.
According to PFA's director of responsible investments, Rasmus Bessing, the development has been unusual, stating:
“When the world develops, PFA does the same, and that’s why we’re now investing much more in defence than we have before.”
- The pension fund's defence investments have grown to DKK7.7bn (€1bn) from DKK793bn before February 2022.
- This corresponds to an increase of 872% over three and a half years.
- European defence investments have seen the fastest growth, rising by 1,650% during the same period.
PFA, Denmark's largest commercial pension provider, has a total of DKK700bn in assets.
Author's summary: PFA's defence investments skyrocket to €1bn.