Icelandic pension funds Sjomanna, Thverholt, and Framsyn, Saetuni, are...

Icelandic pension funds Sjomanna, Thverholt, and Framsyn, Saetuni, are considering a merger. Sjomanna is the pension fund for the fishing and maritime sectors, and Framsyn, the fund for the country's general labor market; each fund has $1 billion in assets. Tryggvi Tryggvason, assistant director for Sjomanna, said both pension funds are looking to be more cost-efficient and decrease risk, and hire staff to manage investments internally. Talks are expected to continue into the fall, and a decision will be made at year's end.