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Valtion Eläkerahasto (VER), the €12bn pension fund for Finnish state employees, is to double its exposure to emerging market equities from 5 per cent to 10 per cent of its equity portfolio, at the expense of European equities.
“Our portfolio has been a bit too tilted towards Europe with an allocation of about 70 per cent of total equities. Looking to reduce our exposure, we decided to put more emphasis on emerging markets. It’s a region where we’ve always been an active investor,” said Timo Löyttyniemi, VER’s managing director.
Twenty per cent of its equities are allocated to the domestic market and another 10 per cent to the rest of the Nordic market. “Every year we try to consider if having a home bias is justified, but so far it has been a good decision,” he added. CL
