Danish pension fund AkademikerPension said on Tuesday it could unload its holding of U.S. Treasuries, value some US$100 million, by the top of this month, blaming weak U.S. government funds.
AkademikerPension said the choice was not intended as a political statement linked to the rift between Denmark and the US over Greenland.
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“The choice is rooted within the poor U.S. government funds, which make us think that we want to make an effort to search out an alternate way of conducting our liquidity and risk management,” Investment Director Anders Schelde said in a written statement.
“Thus, it just isn’t directly related to the continued rift between the U.S. and Europe, but in fact that didn’t make it tougher to take the choice,” he added.
AkademikerPension has in total 164 billion Danish crowns ($25.74 billion) under management, it said on its website.