At the end of November 2023, LD Pensions will close the four portfolios managed by external investment companies. These are the BankInvest Vælger, Danske Invest Vælger, Jyske Invest Vælger and Nordea Invest Obligationer portfolios.
The four portfolios have formed part of LD Pensions’ overall range of portfolios, from which members with accrued cost-of-living allowance funds have been able to choose.
On this page, you can find information about when and how we close the portfolios. If you have cost-of-living allowance funds invested in the external portfolios, you can also read about what to do if you wish to invest your funds in other portfolios yourself.
All members who have savings held in the four portfolios that are closing will receive a digital letter from us containing information about the closure of the portfolios.
If you have savings with the employees' holiday allowance fund, the closure of the four external portfolios does not affect you. At the employees' holiday allowance fund, you cannot choose between different investment portfolios.
If you have savings with The Holiday Allowance Fund, the closure of the four external portfolios does not affect you. At The Holiday Allowance Fund, you cannot choose between different investment portfolios.
Why are we closing the external portfolios?
Costs and demand have not been in line with one another. Less than 0.5% of the accrued cost-of-living allowance funds have been allocated to the external portfolios. As few people choose these funds and they also have a high expense ratio, we have decided to close them.
Fortunately, you can still choose a portfolio. We have five in-house portfolios in which you can choose to invest your savings, in addition to the main portfolio, LD Discretionary.
What happens if I have savings in the portfolios that are being closed?
The four external portfolios will close at the end of November. If you are a member of the Cost-of-Living Allowance Fund and have some of your savings invested in one or more of the four portfolios, you can choose to transfer your funds to other portfolios yourself. You can also choose to do nothing, in which case we will transfer this part of your savings to other portfolios.
Deadline for portfolio selection
If you have savings invested in one or more of the external portfolios and would like to decide for yourself which portfolios this part of your savings should be invested in, you must make your portfolio selection by 27 November 2023 at the latest. If you do not perform portfolio selection by the deadline, we will transfer this part of your savings to other portfolios.
You don’t need to perform portfolio selection yourself
If you do not perform your own portfolio selection by the deadline of 27 November 2023, we will automatically transfer your savings from the external portfolios to the internal portfolios:
- If you have savings invested in the BankInvest Vælger, Danske Invest Vælger or Jyske Invest Vælger portfolios, we will transfer this portion of your savings to our main portfolio, LD Discretionary. LD Discretionary is similar to the three external portfolios in terms of risk profile and investments in both shares and bonds.
- If you have savings invested in the Nordea Invest Bonds portfolio, we will transfer this part of your savings to the LD Mixed Bonds portfolio. LD Mixed Bonds is similar to Nordea Invest Bonds in terms of risk profile and investments in Danish and foreign bonds.
Even if you leave it to us to transfer your savings from the external portfolios to the internal ones, you can always perform new portfolio selection yourself whenever you wish.
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You can keep your savings in the four external portfolios right up until midnight on 27 November 2023. If you haven’t transferred your funds to other portfolios yourself by then, we’ll do it for you.
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If you choose to participate in portfolio selection, there is a fee of 25 kr. for casting your ballot.
If you do not perform a portfolio selection yourself by the deadline of 27 November 2023, we will transfer that part of your savings to other portfolios. You will not be charged a portfolio selection fee for this.
Even if you leave it to us to transfer your savings from the external portfolios to the internal ones, you can always perform your own portfolio selection whenever you wish.
If you make a portfolio selection yourself, you do not have to pay a portfolio selection fee if you change your mind before the portfolio selection takes effect. If you have made several portfolio selections within the same period, you will only be charged for the most recent selection before the portfolio selection is finalised.
Find out more about portfolio selection in the Rules for Portfolio Selection
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If you have never performed a portfolio selection via our self-service portal, none of your savings are invested in any of the four external portfolios that are closing.
As a rule, all members have their entire savings invested in our main portfolio, LD Discretionary. Just over 10 per cent of our members are ‘portfolio selectors’. This means that they have chosen to invest some of their savings in portfolios other than LD Discretionary.
You can log in to our self-service portal at any time to see an overview of the portfolios in which your savings are invested.
If you have any of your savings invested in one or more of our external portfolios, we will send you a digital letter containing the necessary information.
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You can only make one portfolio selection per month. The deadline for making a portfolio selection is the third-last banking day of the month. After this, your portfolio selection is locked, and once it is locked, you can no longer cancel or change it. You are bound by your portfolio selection, which will be carried out.
If several consecutive selections are made before the lock-in deadline, only the most recent selection will be implemented.
If you are conducting portfolio selection in November, the deadline is 27 November 2023.
You can view the deadline for booking a portfolio selection under ‘Book a portfolio selection’ in the self-service portal. The deadline for booking a portfolio selection is also the deadline for cancelling the portfolio selection you have booked.
Under the ‘Receipts’ menu item, you can view the portfolio selection you have ordered, and here you can also see the date on which the portfolio selection will take place. It will be indicated whether you still have time to cancel the portfolio selection.
