The Danish defense industry has encouraged pension funds in the country to look more positively at investments in weapons. ”We would like it to be considered ordinary societal responsibility,” says an industry leader.
The asset manager has poached profiles from BlackRock and Nykredit to accelerate growth across several business segments. Head of Nordics and Benelux Christoffer Hedberg believes his new team is set up for something big.
Although Finland’s economic dependence on trade with Russia has been steadily declining, there are still both large and smaller companies, where a notable part of revenue or purchases come from Russia, says Carl Pettersson, CEO of EUR 28.8bn Elo Mutual Pension Insurance.
The first three months of the year were tough for PFA, which lost DKK 27.3bn (EUR 3.6bn) on its investments during the period. Listed equities were particularly affected, and PFA’s green savings product was hit harder than its main product, PFA Plus.
Together with more than 500 investors and its new partners from Unified Investors, more than USD 3.5bn has been committed across Advantage Investment Partners’ platform focusing on private market funds. With several ongoing projects, the ambition level is increasing.
Both Ilmarinen and Varma recorded a negative result for the first quarter of the year. Ilmarinen’s CEO highlights that it is increasingly important to be prepared for extraordinary situations, while Varma’s CIO predicts that the rest of 2022 will not look rosy for investors.