Searches and Hires

Finland’s state pension fund hires risk management firm

Valtion Elškerahasto, Helsinki, hired OP Varainhoito to provide outsourced portfolio management services, according to a notice on European procurement website Tenders Electronic Daily.

OP Varainhoito provides portfolio management and back-office service, reporting, collateral risk management, analysis and accounting for the entire investment portfolio of Finland's state pension fund, which has €19.6 billion ($23.4 billion) in assets.

The pension fund's asset allocation is 48.4% equities, 39.2% fixed income, 3.7% hedge funds, 3.1% real estate, and 1.3% infrastructure. The impact of derivatives was 2.7% of the portfolio, while 1.5% of investments were classified as other, according to the latest financial update.

A spokesman could not be reached by press time to provide additional details.