Our focus is on achieving the best absolute results, but we still believe it's important to also assess our performance relative to a benchmark, as we only create value if our absolute results can outperform the market in the long run. Otherwise, our investors would be better off without us. To have an idea of how we fare relative to others, we have chosen to measure our performance against a benchmark, the MSCI ACWI Index Net denominated in DKK. We believe that this index best represents our strategy and costs.

 

The index encompasses companies from all over the world and measures their returns after expenses and reinvestment of net dividends. Furthermore, the index also takes into account any gains/losses resulting from currency fluctuations. The aspect of currency fluctuations is an essential component to consider, as our results will also be influenced by potential fluctuations in exchange rates.

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Furthermore, we compare our returns with the Danish OMX Copenhagen 25 Gross Index (C25), given that our investor base is primarily located in Denmark, where a substantial share of their wealth is invested in the local stock market. The index is denominated in DKK and calculates returns while accounting for the reinvestment of gross dividends.