The ATP Group Annual Report 2012

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Management's Review Business Model Risk Pension Hedging and Investment Hedging Investment Administration Social Responsibility The ATP Group Financial StatementsATP Timberland Invest K/SThe objective of ATP Timberland Invest K/S, founded in2008, is to invest directly or indirectly in forestry or forestryoperations. At end-2012, the company had DKK 1.1bn availablefor new investments of an overall investment limit ofDKK 3bn.ATP Timberland Invest K/S has four subsidiaries:• Upper Hudson Woodlands ATP LP• Northwoods ATP LP• Wolf River ATP LP• Ouachita ATP LPTrustee, an independent pension trust in the UK. PensionTrustee. At end-2012, the company manages funds of DKK10m.ATP Invest IIIATP's investments in high-yield bonds, i.e. bonds issued bycompanies with low credit ratings or by developing countries,are performed by external portfolio managers throughATP Invest III. Nykredit Portefølje Administration A/S is responsiblefor the management of investments under ATPInvest III. At end-2012, the mutual fund has invested DKK16.6bn.ATP Alternative Investments K/SATP Alternative Investments K/S was founded and listedon the Irish Stock Exchange in 2010. The company makescredit-related investments, primarily targeting funds investingin corporate loans. At end-2012, the company hadDKK 8.0bn available for new investments of an overall investmentlimit of DKK 16bn.ATP TIM GP ApSThe objective of ATP Tim GP ApS, founded in 2008, is to bea general partner in ATP Timberland Invest K/S and ATPAlternative Investments K/S. The company has no activity.ATP Alpha Fondsmæglerselskab A/SThe objective of ATP Alpha Fondsmæglerselskab A/S,founded in 2003, is to provide investment advice to clientsclassifi ed as approved counterparties and execute tradingorders in relation to investment advice. At end-2012, thecompany manages funds of DKK 10.5bn.NOW: Pensions Investment A/S FondsmæglerselskabThe objective of NOW: Pensions Investment A/S Fondsmæglerselskab,founded in 2011, is to provide investment services,including portfolio management, to NOW: PensionCP2(x)(3) Investment TrustThe CP2(x)(3) Investment Trust was founded in 2010 as partof the acquisition and restructuring of infrastructure investmentsin the USA and Australia. The contents of the trustwere sold in early 2012.ATP Alternative Investment TrustATP Investment Trust, founded in 2011, is an Australian trustset up to invest in infrastructure. At end-2012, the companyhas invested DKK 1.6bn.ATP PensionService A/SATP PensionService A/S sells administration services to labour-marketpension schemes, maternity schemes, etc. Administrationsolutions include membership administration,collection of contributions, disbursement of pension benefits, etc. Asset management is not among the services offered.Annual reports of ATP's subsidiaries are available for downloadat www.atp.dkThe ATP Group – Annual Report 201266
M an a g e m e nt's Revi ew B u s ine s s Mo d e l R i s k Pe n s i o n H e d gin g an d Inve s tm e nt H e d gin g Inve s tm e nt Admini s trati o n S o ci al Re s p o n s ib ilit y The ATP Group Financial StatementsFinancial statementsPension is a patchwork quiltFacts Pension about savings pensions are important, but your pension savingsare just one element in your overall pension income. Al-Half of the population accounts for 88 per centthough personal pension plans will become increasingly im-of all pension contributions in Denmark.portant over time, the basic pension cover, provided bystate old-age pension and ATP, will remain the main sourceof income for the vast majority of Danes. It is important toconsider all elements in relation to pension income. Peopletend to overlook small debts, but they can be an importantpiece in the pension jigsaw puzzle.»
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The ATP Group Annual Report 2012

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