FINLAND - Gyllenberg Asset Management, one of Finland's largest managers of pension assets and part of the SEB Group, is to launch a new US equity index product later this year in partnership with Barclays Global Investors.
Martti Saikku, director and head of institutional business at Gyllenberg in Helsinki, said that he is witnessing significant interest in diversification into US markets from Finnish pension assets.
Although the majority of Finnish pension assets in Europe are invested actively, he said that for the US many portfolios are opting for the passive approach.
“Now that many of the European portfolios are in place we are seeing further diversification into alternative investments and the need to correct the under-weighting in the US market,” said Saikku.
The North America Index Fund will be benchmarked against the MSCI North America Index.
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