Investment Management

The purpose of Spektrum’s investment management is to ensure the greatest possible return with a risk profile that matches the individual client’s needs and wishes. In a close partnership with you as a client, we construct the right investment strategy and select the best products for your portfolio.

We create value:

1.   Through investment strategies that are based on trends among the largest investors in Denmark

2.   By making very few tactical changes to your portfolio

3.   Through widespread investments among some of the world’s best managers

As a client in Spektrum you choose which bank or financial institution you prefer to administer your deposit. This means that you can maintain partnership with your current bank, and that we can concentrate 100% on creating the most value from your capital. Additionally, the costs you pay are a combination of a fixed fee and a fee related to the return your capital delivers; there are no hidden costs with us. In most cases, our fee is earned back in savings.

We have more than 25 years of experience in advising the largest pension companies in Denmark, and we can therefore create portfolios with the same quality and diversity in asset classes as the leading investors. In other words, we bring institutional quality to all our clients.

PhilipGarde_1804 CU

Head of Relations
Phillip Garde
+45 33 18 99 54

Spektrum's Paper Portfolio

Excess Return, Net of Fees

The paper portfolio reflects Spektrum’s proposed strategy and tactical allocations for a client that requests a strategic portfolio of 40% equity and 60% bonds (often defined as average risk).

As all of Spektrum’s clients have customised portfolios, the paper portfolio functions as an indicator of what a standardised client has achieved in terms of performance.

The figure illustrates that since January 2017, the paper portfolio has yielded an additional return of 2.2%, net of fees, relative to a benchmark composed of ETFs. In addition to outperforming the benchmark, the paper portfolio has delivered an annual return that is more than 2% higher than the average of comparable balanced funds in Denmark, cf. return data from Bloomberg.

The benchmark consists of ETFs and is composed of 40% equity, 30% high grade bonds and 30% high yield bonds.
The benchmark has been adjusted for the difference in risk between Spektrum’s strategic benchmark and this simple benchmark.

Our Philosophy

We create value through strategy, operational management and tactical allocation.


We believe that defining a strategy is the most important aspect of creating a robust portfolio that can yield a good return.

The strategy ensures that there is a strong starting point when the market environment and sentiment change ensuring that the investments do not drift in an undesirable direction. A good strategy is characterised by having:

  • A customised return/risk profile
  • A diversified portfolio
  • An addition of alternative investments


Operational management

We believe that selecting the best asset managers within every asset class creates significant value. This is why we do not undertake the asset management ourselves. Instead, we select the asset managers that we consider the best on a global scale. By opting for actively managed products, it is possible to achieve excess return. We are convinced that:

  • Choosing the best managers is profitable
  • Finding the best managers requires a lot of resources
  • The best managers are to be found on a global scale


Tactical allocations

At Spektrum, we carry out tactical management only when the markets are significantly imbalanced. This means that we make few tactical changes to your portfolio.