The same applies if a company has low costs. Over a working life, even small differences is cost ratios can amount to several hundred thousand kroner in savings for the individual policyholder at the time of retirement.
If you look at the risk premium of these assets and compare it with the level of interest rates, you can see that it isn’t overvalued. And in the bond market the natural rate of interest has fallen as a result of technological changes, demographics and low growth. The context of this market has changed.