FINLAND - The State Pensions Fund (VER) posted a return of 7% over 2006, with assets totalling over €10bn at year end.
In spite of disappointing half-yearly results, with 0% return, the value of VER’s investments rose significantly over the whole of 2006. However, it dropped by 7.9% from the 2005 figure of 14.9%.
The market value of the fund’s investments exceeded the €10bn limit, rising to €10.3bn at year end. This saw an increase from the 2005 sum of €8.2bn.
VER had around 40% of its assets in equities, 56% in fixed income and 4% in other asset classes.
VER MD Timo Löyttyniemi said: “During the year, we raised the share of other investments to 4% and we will continue to diversify our investment portfolio even further.”
In other Finnish news, the Evli Bank’s group joint pension fund achieved a 16.8% net return on its investments over 2006.
The good returns were attributable to both the good performance of the equity markets and successful fixed income investment.
The pension fund's good result indicates that active investment operations have brought significant additional returns, said Antti Pesonen, the fund's administrator.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.