{"id":176920,"date":"2019-10-29T15:00:00","date_gmt":"2019-10-29T15:00:00","guid":{"rendered":"https:\/\/bm.dev.synology.me\/?p=176920"},"modified":"2026-04-07T12:01:37","modified_gmt":"2026-04-07T12:01:37","slug":"unde-se-muta-banii-cand-dobanzile-sunt-negative-fondurile-de-pensii-din-danemarca-cu-active-totale-de-450-miliarde-dolari-isi-cresc-expunerea-pe-active-imobiliare","status":"publish","type":"post","link":"https:\/\/bm.dev.synology.me\/?p=176920","title":{"rendered":"Unde se mut\u0103 banii c\u00e2nd dob\u00e2nzile sunt negative: Fondurile de pensii din Danemarca, cu active totale de 450 miliarde dolari, \u00ee\u015fi cresc expunerea pe active imobiliare"},"content":{"rendered":"<p>\nFondurile de pensii din Danemarca, una dintre cele mai dezvolate pie\u0163e pentru industria fondurilor de pensii la nivel global, \u00ee\u015fi cresc expunerea pe active imobiliare \u00een c\u0103utare de un refugiu care poate aduce c\u00e2\u015ftiguri sigure \u00eentr-un mediu cu dob\u00e2nzi negative.<\/p>\n<p>\nDintre cele opt cele mai mari fonduri de pensii daneze contactate de Bloomberg, \u015fase spun c\u0103 vor s\u0103 \u00ee\u015fi extind\u0103 portofoliul imobiliar \u015fi s\u0103 caute alte active alternative. Mai multe fonduri sus\u0163in c\u0103 se a\u015fteapt\u0103 ca randamentele pe obliga\u0163iuni s\u0103 r\u0103m\u00e2n\u0103 negative \u00een anii urm\u0103tori.<\/p>\n<p>\nDanemarca are deja dob\u00e2nzi negative de peste \u015fapte ani, mai mult dec\u00e2t a stat orice alt\u0103 \u0163ar\u0103 \u00eentr-un astfel de mediu<\/p>\n<p>\nJan Ostergaard, care supravegheaz\u0103 investi\u0163iile private \u00een cadrul Industriens Pension, un fond cu active de circa 26 miliarde dolari, spune c\u0103 pia\u0163a imobiliar\u0103 este atractiv\u0103 pentru c\u0103 prezint\u0103 \u201erisc sc\u0103zut\u201d \u015fi \u201ec\u00e2\u015ftiguri stabile\u201d.<\/p>\n<p>\nMutarea aten\u0163iei c\u0103tre propriet\u0103\u0163i imobiliare vine \u00een contextul \u00een care investitorii institu\u0163ionali a\u015fteapt\u0103 ca publicarea unui raport comandat de guvern dup\u0103 care se va ghida legisla\u0163ia pie\u0163ei chiriilor din Danemarca. Potrivit sursei citate, unele modele discutate includ op\u0163iunea plafon\u0103rii chiriilor, ceea ce ar \u00eenjum\u0103t\u0103\u0163i valoarea investi\u0163iilor.<\/p>\n<p>\nKaare Dybvad, ministrul pentru Imobiliare din Danemarca, a criticat mai mul\u0163i investitori pentru c\u0103 ar fi profitat de ceea ce el nume\u015fte \u201eg\u0103uri\u201d \u00een legisla\u0163ia actual\u0103. \u00cens\u0103 el a avut un discurs critic mai mult la adresa cump\u0103r\u0103torilor interna\u0163ionali \u015fi a eviden\u0163iat situa\u0163ia fondului Blackstone Group \u2013 care a investit \u00een Rom\u00e2nia \u00een compania Superbet \u2013 dup\u0103 ce gigantul de investi\u0163ii a \u00eenceput s\u0103 cumpere din ce \u00een ce mai multe propriet\u0103\u0163i pe pia\u0163a danez\u0103 \u00een ultimii ani.<\/p>\n<p>\nMichael Bruhn, \u015feful diviziei real estate \u00een cadrul celui de-al doilea cel mai mare juc\u0103tor din Danemarca, PFA Pension, cu active de 90 miliarde dolari, spune c\u0103 investi\u0163ia \u00een imobiliare face parte din a\u015fa-numitele core projects ale fondului. Acestea implic\u0103 achizi\u0163ia de propriet\u0103\u0163i \u015fi investi\u0163ia \u00een cl\u0103diri noi care au nevoie doar de renova\u0163ii.<\/p>\n<p>\n\u201eNe apropiem de finalul ciclului economic, iar clien\u0163ii no\u015ftri vor un risc peste medie. Noi avem apetit pentru investi\u0163iile cu valoare ad\u0103ugat\u0103\u201d, spune Bruhn.<\/p>\n<p>\n&nbsp;<\/p>\n<p>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fondurile de pensii din Danemarca, una dintre cele mai dezvolate pie\u0163e pentru industria fondurilor de pensii la nivel global, \u00ee\u015fi cresc expunerea pe active imobiliare \u00een c\u0103utare de un refugiu care poate aduce c\u00e2\u015ftiguri sigure \u00eentr-un mediu cu dob\u00e2nzi negative. Dintre cele opt cele mai mari fonduri de pensii daneze contactate de Bloomberg, \u015fase spun [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[9323,246,17961,187,7148,30],"class_list":["post-176920","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-active","tag-crestere","tag-danemarca","tag-dobanzi","tag-fonduri","tag-imobiliare"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/176920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=176920"}],"version-history":[{"count":1,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/176920\/revisions"}],"predecessor-version":[{"id":176940,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/176920\/revisions\/176940"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=176920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=176920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=176920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}