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Finnish funds keen to cooperate with Danish pensions to stop aggressive tax planning

The new principles drafted in Denmark could provide a future foundation for a similar code of conduct in Finland, says Varma CIO. Transparency on tax footprint is already part of Elo's screening of managers, Elo Director claims.

Elo Mutual Pensions Director of Unlisted Investments Timo Stenius (left), Ilmarinen CIO Mikko Mursula (right top) and Varma CIO Reima Rytsölä (right bottom) | Photo: PR ELO / Junnu Lusa / PR Ilmarinen

Large Finnish pension insurance companies welcome the Danish initiative to influence tax behavior of private markets asset managers by developing shared principles for them.

While some of the investors note that the Danish principles in draft could be adopted also by Finnish pension insurance companies, others simply welcome the idea of a possible Nordic cooperation on the issue.

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