The annual report for the Pension Fund for Agricultural Academics & Veterinarians tells of an increased focus on responsibility, while the return was modest in the shadow of covid.
2020 was a year in which the world was put on the other end in many ways in the fight against the covid pandemic, which led to a deep health crisis and a global economic crisis. The investments in the Pension Fund for Agricultural Academics & Veterinarians were also affected by the economic turmoil, and the return for the year landed at DKK 347 million. This corresponds to a return of 2.3 per cent.
“2020 was a very turbulent year, and our portfolio is composed in a way that hit us in the short run when the stock markets plunged a year ago. The modest return of 2.3 per cent. is not satisfactory. However, it must be borne in mind that an accumulated return of 49.2 per cent has been achieved over a seven-year period. as a member of the Pension Fund for Agricultural Academics & Veterinarians, ”explains Erik Bisgaard Madsen, who is chairman of the board.
Total payments in 2020 amounted to more than DKK 435 million. DKK, corresponding to an increase of 3.3 per cent. compared to the previous year, and at the end of the year the pension fund had 10,829 members, whose pension savings in 2020 were remunerated at a deposit rate of 2.6 per cent. For 2021, the deposit rate is set at 1.5 per cent.
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