- Nordic funds to boost alternatives
- Erik Valtonen
- Finnish pension companies join Euro timb...
- Preparing for a bear market
- Swedish AP7 undergoes major structural c...
- Swedish trio team up to form property in...
- Learning from the Finnish experience
- Keva boosts holdings in Greek debt
- In Focus: Magdalena Lönnroth, Central Ch...
- PenSam follows Norway’s lead
Stafir hopes to increase foreign investment levelsRestricted by the regulatory requirements to invest domestically, Iceland’s Stafir pushes for less controls, writes Reeta Paakkinen
Storebrand boasts steady returns and equity increaseNorway’s longest running occupational pensions company has sailed through the crisis with solid growth, writes Peter Carvill
Swedish KPA Pension makes surprise turnaroundAfter a previously poor performance, pensions company KPA has made a marked improvement, writes Caroline Liinanki
Exotic investment pioneerAfter one of the country’s worst performances in 2008, Denmark’s Bankpension is sticking to its long-term strategy, writes Caroline Liinanki
Swedish SPP content with safe but sound returnsAfter suffering relatively moderate damage in the crisis, SPP adheres to Storebrand’s cautious approach and posts gains, writes Hjalmar Tjan
Vital preps full-scale move into global equities in 2010Norway’s typically conservative Vital is planning to more than double its exposure to global equities, writes James Redgrave
Yle keeps low equity exposure and in-house managementThe Finnish Broadcasting Company’s pension fund has seen the worst of the crisis, but is wary of market growth, writes Reeta Paakkinen
Mela returns rise nearly 20% by sticking to ‘moderate’ riskThe Finnish farmers’ pension fund has made a strong comeback in the first half of the year by resisting radical change, writes Reeta Paakkinen
- PenSam to make ‘aggressive’ strategic changes
After restructuring its investment department, Danish PenSam is now overhauling its entire strategy, write Hjalmar Tjan and John Foster
Akershus council fund curbs volatility with alternativesThe fund for Norway’s largest council hopes to spread its bets equally between asset classes to counter the downturn, writes Hjalmar Tjan.
Swedish Match signals hedge fund allocation increaseSwedish Match is continuing to spread its risk by adding more alternatives to its two pension fund portfolios. Caroline Liinanki finds out more.
Cautious Veritas still keen to embrace new ideasFinnish Veritas remains prudent in the downturn while keeping an open mind on new areas, writes Reeta Paakkinen
Danish DIP persists with diversified outlookDespite suffering a big loss last year, the Danish engineers’ pension fund is still looking to diversify, writes Spencer Anderson
Danish PBU braces itself for 'worst year ever'The Danish pension fund for early childhood teachers prepares for a risk-averse year, writes Hjalmar Tjan
Swedish AP enters a new era of co-operationThe Swedish architects’ fund has shed its bad managers and changed management style for 2009. Caroline Liinanki investigates
Stapi fund dodges the Icelandic financial bulletIceland's Stapi emerges from the wreckage intact, thanks to its conservative policies, writes Spencer Anderson
Widespread changes as PFA slims down for 2009Danish pensions company PFA is changing all aspects of its operation to help prevent losses, writes Hjalmar Tjan
- Bond-heavy KLP to retain conservative strategy in 2009
With modest but comparatively impressive results, KLP plays it safe to maintain its top market share, writes Spencer Anderson
- Swedish AMF reconsiders negative view of equities
After months of equity aversion, some Swedish investors are regaining an appetite for the asset class, writes Caroline Liinanki
- Portfolio construction key to Gildi’s moderate success
Despite a challenging domestic climate, Iceland’s Gildi is faring better than its competitors, writes Caroline Liinanki.
- Equity-heavy Ilmarinen defiant despite losses
Despite coming second to last among Finnish pension companies in 2008, Ilmarinen is standing its ground, writes Caroline Liinanki.
- Danish fund uses chameleonic strategy to beat credit crisis
Rather than playing it safe, PensionDanmark has met the tough times with shapeshifting tactics, writes Caroline Liinanki.
- New blood keeps wind in AP1’s sails
After weathering the storm and beating its benchmark, Sweden’s first national buffer fund welcomes aboard a new captain, writes Chris Newlands.
Shedding bonds for an energetic futureDanish fund Sampension is diversifying and will drop its weighty bond allocation for more flexible investments, writes Caroline Liinanki
Full steam ahead as general fund boosts private equityAfter a lacklustre year, the Icelandic General Pension Fund is convinced private equity is the way to go, writes Caroline Liinanki
- ATP continues ‘inflation beating’ tactics
Taking different risks to avoid its weakness in times of high inflation, Danish ATP stands firm while keeping one eye on the US, writes Spencer Anderson.
- OPF increases alternatives despite new rules
While the 7 per cent alternatives limit has scuppered OPF’s plans, the fund still has ambitious targets, including private equity and hedge funds, writes Caroline Liinanki.
- Kåpan looking further afield
In a break from the traditionally conservative Swedish pension funds, Kåpan Pensioner – the fund for government employees – has ditched a large proportion of its bond holdings in favour of ‘quirky’ alternative allocations, including some outside of the established markets. Caroline Liinanki reports.
- Slow and steady keeps VR on track
VR pension fund managed to post a solid performance in fairly difficult conditions. Its conservative outlook was also justified this year when its alternatives allocation failed to beat equities, writes Reeta Cevik.
- Norway’s global fund spreads its wings
Responsibility and sensibility have always been the watch words of the Norwegian Government Pension Fund – Global. But with a dramatic increase in the fund’s equity allocation planned and a Shanghai office in the pipeline, it may be time to get more adventurous. Caroline Liinanki reports.
- Industry fund enjoys its new found freedom
Danish fund Industriens Pension is enjoying the fruits of its labour, as good returns have enabled the fund to allocate more money into risky asset classes like alternatives. Caroline Liinanki finds out how it approached the asset class.
- A woman’s touch prompts diversification
A low-yielding environment, combined with changing demographic patterns for the largely female workforce it insures, has forced Denmark’s PKA to work harder to match its liabilities. Reeta Cevik reports on how the firm is reassessing its investment portfolio to deliver positive returns.
- Two-pronged approach to success
Danica Traditional’s 2006 performance was disappointing after a buoyant 2005, but the fund’s chief investment officer says its problems are over. Reeta Cevik finds out how the firm’s risk management, diversification and foreign expansion have helped.
Mikko Koivusalo, Varma
Big names deal with lower investment returnsAll but one of the Nordic region’s biggest pension funds saw returns fall last year, and worst-hit Denmark is blaming poor bond performance and reliance on derivatives. Reeta Cevik hears how investors are planning to dig themselves out of the unexpected downturn.
- New CIO intends to break down Etera’s investment limitations
The restrictive investment guidelines in place at Etera when new CIO Mika Pesonen arrived did not suit his vision for the fund. He is now in the process of changing the guidelines to allow the scheme to take a more tactical approach and to keep up with its competitors. Chris Newlands reports.
- Youthful members are the boldest investors
The Danish Early Childhood Teachers pension fund is doing well thanks to limited immediate liabilities and the low average age of its members. Thomas Escritt finds out how it is enticing them over from a defined benefit to defined contribution system.
- Finnish insurer looks to stay within its comfort zone
Veritas is looking to get the best of both worlds by preparing for long-term goals while keeping one eye on short-term opportunities. However, one of the fund’s guiding principles is to stick to what it knows and get the best out of the sectors it has mastered. Reeta Cevik reports.
- AP 7: Advocating Alpha
Peter Norman, executive president of Sweden’s seventh AP fund, is an advocate of pure alpha, urging investment managers to create products that do not allow them to hide behind beta performance. Hugo Greenhalgh spoke to him about the fund’s alpha-beta split, the functioning of the PPM system and the fund’s future investment plans.
- Last year’s returns cushion blow of 2006 performance
Bank Pension’s 2005 performance was impressive, but recent market turbulence has meant that they have struggled in the first half of this year. However, this well-diversified yet conservative fund has no intention of initiating any radical shake-ups. Reeta Cevik reports.
- Getting shipshape for mergers to come
With the consolidation of Iceland’s second-pillar pension funds, LSJ Nordurlands expects to merge with other schemes in the near future, but it is determined to dominate post-merger. Iain Morse speaks to the country’s sixth largest pension fund on this and its investment strategy going forward.
- Shell held back by Norway’s restrictive regulatory environment
Like many, Norske Shells Pensjonskasse has struggled with the cooling of the global markets. However, its desire to diversify into alternatives and equity investments has been hampered by a strict Norwegian regulatory environment. Reeta Cevik reports.
- Sonera braces itself for Finnish regulation shake-up
Finland’s largest mutual pension insurance company logged an impressive year-on-year return growth with a shift towards equities. And with recommendations being accepted to raise the equity component of the fund by 10 per cent, this could well be repeated again. Reeta Cevik reports
- The four ingredients to ensure vitality
Reeta Cevik speaks to Tom Rathke, CFO of Vital, on the pension company’s four principles of investment, which include risk taking and a stringent monitoring of managers’ SRI activities
