Pension fund SISA invests in fisheries

The SISA pension fund is helping to establish a company with a focus on fishing. A former Greenlandic national is the director.

SIK’s pension fund, SISA, now wants to get involved in offshore fishing. Therefore, they have helped establish the company Avalleq ApS on April 25. This is stated in the business register cvr.dk.

Avalleq ApS wants to fish offshore for Greenland halibut and cod. They are currently awaiting a response to their application for quotas from the Greenlandic Government.

But why would a pension fund want to get involved in fishing?

– The board of directors of SISA has long had a desire to help develop the fishery, and if we can help invest in it, we would like to help finance it, says SISA’s chairman, Jess G. Berthelsen.

According to the new Fisheries Act, which came into force at the turn of the year, pension funds are allowed to invest in fisheries. The hope is that this can increase the return for future pensioners.

– We hope it can provide a greater return for the benefit of our 40,000 members, says Jess G. Berthelsen.

The Ownership

The director of the board secretariat of SISA, Pâviâraq Heilmann, is chairman of the board of the new company. One of the co-founders and former naalakkersuisoq for fisheries, Karl-Kristian Kruse, is director.

According to the business register, the company has a capital of 40,000 kroner. The owners are SISA, Karl-Kristian Kruse, Nikolaj Therkelsen and Knud Lyberth Poulsen. SISA has invested 10,000 kroner, according to Jess G. Berthelsen.

Read alsoUnion leaders thunder against fuel price increases

He does not want to comment on why these particular people are co-owners, but emphasizes that SISA has been given the opportunity to invest.

– I cannot comment further, but we were contacted regarding a possible investment, and we agreed to it.

Jess G. Berthelsen will not comment on who has offered SISA a possible investment.

Aspirations and risk of failure

In a press release from February, the previous government wrote that offshore quotas for 4,600 tons of Greenland halibut, 1,950 tons of cod and 166.6 tons of halibut would be offered to interested parties. Avalleq ApS has taken advantage of this opportunity to apply for quotas, director Karl-Kristian Kruse told KNR.

If the application does not lead to quotas, the company will be closed.

– We haven’t achieved that yet. We naturally hope to get the approval. If not, the company must be closed, says Jess G. Berthelsen.