丹麦养老基金减持美债，资金或转向欧洲及避险资产

Funding Trends - AkademikerPension announced the complete liquidation of its U.S. Treasury holdings, approximately $100 million, by the end of January 2026, due to concerns over U.S. policy credit risk and fiscal sustainability [2] - Other Danish funds, including ATP and PFA, have also reduced their exposure to U.S. Treasuries, shifting towards safer assets like euros, Swiss francs, and gold. In 2025, Danish institutions net sold about $1.5 billion in U.S. Treasuries, bringing their holdings to the lowest level since 2020 [2] Industry Policy and Environment - Data from early February 2026 indicates that European equity funds attracted approximately $14 billion in net inflows, as investors seek to reduce reliance on U.S. tech stocks and diversify risk towards European and Asian markets [3] - The reduction in holdings by Danish funds is partly attributed to U.S. tariff threats against Greenland, prompting Nordic investors to reassess risks associated with U.S. stocks and dollar assets, which may influence their allocation towards local European stocks, particularly in the financial and industrial sectors [3] Company Status - Although not directly involving Danish trust funds, the global trust industry has been increasingly divesting non-core financial equity, such as Huachen Trust's transfer of fund company equity, to focus on core business operations. This trend may indirectly affect the collaboration and equity structure of multinational asset management institutions [4]