"We've received more positive than negative news since Q1 although it doesn’t always feel like it," says Varma's CEO
Varma is talking more about reducing its 28 percent exposure to Finland, instead of expanding it, notes Varma's President and CEO in an in-between-lines response to minister of economic affairs. Mika Lintilä recently called for pension companies to discuss increasing investments in the domestic realm.
Only real estate of all asset classes pulled in a positive return at Finland's pensions giant Varma, who announced its half-year results on Friday. Returns for the portfolio totaling EUR 45.3bn at the end of June stood at negative -5.7 percent. The result is still negative, but an improvement from the first quarter when total return stood at -10 percent, says Varma’s President and CEO Risto Murto at a press conference in Helsinki.
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