COPENHAGEN, Denmark: Danish pension fund, AkademikerPension, told dpa on Tuesday that it was selling off US Treasury securities to the value of USD100 million (RM403 million).
The fund said it had taken the decision in response to the US administration’s financial position, which has seen US national debt rise.
“The decision is rooted in the poor US government finances, which make us think that we need to make an effort to find an alternative way of conducting our liquidity and risk management,” AkademikerPension investment head, Anders Schelde, said.
The move came amid tensions between Denmark and the United States over the status of Greenland, but Schelde said this fact was not directly linked to the decision
It had also not made the decision more difficult, he added.
AkademikerPension has almost 175,000 members in Denmark and administers investments to the amount of around USD25.7 billion (RM104.2 billion).
US President Donald Trump has announced the imposition of additional tariffs on European countries in his campaign to secure US ownership of the semi-autonomous Danish island of Greenland.
The governments of Denmark and Greenland are opposing Trump’s actions. – BERNAMA-dpa
