The companies said in a joint statement: "The purpose of the investigation is to understand the events leading up to the bankruptcy and to obtain information that can be used to determine whether there are grounds for asserting legal liability.”

The group includes ATP, PFA, AP Pension, DIP, Industriens Pension, JOEP, Maj Invest, PensionDenmark and SEB.

Danish media put their combined losses in OW at DKK 550m ($92m).

OW