Danish pension fund AkademikerPension achieved strong returns in the first half of 2026, with members who have 15 years to retirement and a medium risk profile seeing a return of 9 per cent.

The result means that these customers’ pension assets have grown by DKK 90,000 for every DKK 1m they have saved.

The fund’s results also showed that the expected annual return for the high-risk investment option is 10.93 per cent with 15 years to retirement, while the low-risk investment option has an expected annual return of 5.9 per cent with 15 years to retirement.

Commenting on the results, AkademikerPension chief investment officer, Anders Schelde, said: “The markets have been very positive in the second quarter, which we also see reflected in the return, which has risen by almost 12 percentage points over the last three months for those with medium risk with 15 years to retirement.”

He explained that several factors led to this strong half-year return.

“One factor is the many days of gains in the markets. Another is the radical change to our investment strategy that we implemented in 2025, the results of which we are now really beginning to see. We are certainly back on track after a weak 2025, so I think I can safely describe the result as satisfactory," Schelde noted.

However, the pension fund suggested there has been no shortage of global turmoil in the second quarter, with the conflict between Iran and the US dominating the global stage as well as US President, Donald Trump, continuing to make “violent outbursts” against friends and foes alike.

But Schelde said it seems that investors have gotten used to this behaviour.

“Previously, we saw how a single statement from Donald Trump could have a dramatic impact on share prices. But investors have now realised that these are often just hot air and empty threats, which they therefore do not attach much importance to when it comes to their trading and strategies,” he said.

“That is why the market turned round as early as the start of the second quarter – that is, long before the ceasefire agreed on 17 June.”

Despite this, Schelde said that geopolitical tensions still represent a major source of uncertainty.

“With the Iran war behind us, the market is now back in a celebratory mood, focusing on the strong macroeconomy and the boom in artificial intelligence, but geopolitical tensions are simmering beneath the surface,” he warned.

“Overall, however, I think they will remain fairly calm at least until after the US midterm elections at the end of the year. So, I am cautiously optimistic about the annual return, but increasingly worried about 2027. It could be another wild financial year.”

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