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Annual report 2009

Positive returns and asset growth

Download the 2009 annual report here.

The negative development in investment markets, which had a major impact on LD's return in 2008, continued until the beginning of March 2009, when the situation changed, and the rest of the year was characterised by a positive trend in  returns for both equities and bonds. For LD, this meant that the overall return before tax on pension investment returns in 2009 was 12.6%, which was satisfactory, more than making up for the return of -9.1% in 2008.  The high returns ensured that the overall assets increased by more than DKK 1 billion in 2009.

Investments generate high return

LD's members benefit directly from the high return, which is added to their savings. The vast number of members saw the losses they suffered on their savings in 2008 more than recouped in 2009. LD Discretionary Investments, which represents 91% of LD's assets, thus generated a return after tax and costs of 12.1% in 2009. The average annual return for members that have left the management of their savings to LD throughout LD's now 30-year existence is 10.2%. The satisfactory performance means that members who were full-time employed in the period 1977-79 have seen their savings increase from DKK 4,368 in 1980 to DKK 92,170 at the end of 2009.