FINLAND - Valtion Elåkerahasto (VER), Finland's state pension fund, gained 5.3% during the first quarter on the back of its equity investment performance.
Global equities returned 9.6%, fixed income allocations yielded 2.4%, while other investments returned 1.2%.
All assets provided better performance than in the first quarter of 2009, when equities lost 7.7%, fixed income gained 0.8% and other investments lost 7.3%.
VER managing director Timo Löyttyniemi said: "The investment activities in the first quarter proved to be a success. The stock markets saw a particularly strong rise in March.
"The difficulties experienced by some of the eurozone countries have led to increased uncertainty in the fixed income and stock markets."
Assets under management grew €2.8bn (US$3.1bn) year-on-year to €13bn. VER has 54.8% of its portfolio allocated to fixed income, 40.8% to equities and 4.4% to others.
According to its annual report, VER returned 16.4% for the whole 2009 and had €12.3bn under management at the end of last year.
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