FINLAND - The e8.2bn State Pension Fund returned 14.9% in 2005 on the back of strong returns from equities and fixed income.
The return was strong in comparison to the 9.6% return the previous year, with assets up from e6.9bn at year-end 2004 to e8.2bn at year-end 2005.
The State Pension Fund’s equity weighting was 40% at year-end 2005.
“The State Pension Fund’s return on its investment portfolio was excellent in 2005,” said Timo Loyttyniemi, managing director.
“Both the equity market and fixed income market developed favourably to the pension fund investor. The increase in the result of the companies was strong in different market areas and the level of interest rate was low. Inflation expectations were moderate.”
Assets of the State Pension Fund stood at e7.5bn at the end of the first half of 2005.
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