The six largest Finnish earnings-related pension providers’ combined investments totalled €212bn at the end of 2020, according to the Finnish Pensions Alliance (Tela).
The providers consist of Ilmarinen, Elo, Varma, Veritas, Keva and VER, the latter two of which are public-sector pension insurers.
Tela’s analysis of the providers’ investments shows that on average the insurers had 47.4 per cent exposure to equities, 30.1 per cent allocated to fixed-income investments, 11.3 per cent to real estate and 11.3 per cent to other investments at the end of 2020.
Keva had the highest equity exposure with 51.8 per cent, whilst Veritas had the lowest with an exposure of 40.3 allocated to equities. In terms of fixed-income investments, Varma had the lowest allocation with 24.5 per cent, whilst the state pension fund, VER, had the highest exposure with 37.4 per cent.
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