Danish pension fund blacklists SpaceX IPO over governance
thenextweb.com
AkademikerPension calls SpaceX "grossly overvalued" at $1.8T and cites "catastrophic governance." Fund joins US pension giants in flagging Musk's 85% voting control.
  • Photonic@lemmy.worldEnglish
    292·
    13 hours ago

    Why is it so bad? I don’t know about the exact situation, but 10.4% average yearly gain seems exactly like what a pension fund should do. Trying to hit the jackpot with people’s pensions is not a secure or sustainable way to deal with people’s pensions.

          • kungen@feddit.nuEnglish
            1·
            10 hours ago

            ATP is actually an insurance company masquerading as a pension fund: focus more on their guarantees, instead of getting optimal returns.

            • ExcessShiv@lemmy.dbzer0.comEnglish
              2·
              9 hours ago

              Their guaranties and payouts in their inaurance-branch are also horrendous and laughable, plagued by nonsensical coverage rules and ridiculous low rates.

              Edit: and no, it’s not an insurance company masquerading as a pension fund, the areas are two entirely independent branches they have slowly been merged over time in the name of government efficiency (a.k.a. budget cuts). They also handle student financial support and basically all government financial aid programmes. But again, the cost of these things are entirely separate from the pension fund and how that is managed, it’s not the same pool of money.