Updated with correction
Valtion Elakerahasto, Helsinki, selected J.P. Morgan Bank Luxembourg as custodian, according to a notice posted on European procurement website Tenders Electronic Daily.
J.P. Morgan will provide settlement and safekeeping services as well as support corporate actions and proxy voting outside of Finland. The firm will also conduct income collection and handle tax reclaims, according to the notice.
The portfolio consists of fixed-income and equity investments, exchange-traded funds and real estate investment trust allocations.
The state pension fund had €19.3 billion ($21.7 billion) in assets as of June 30.
A spokeswoman could not immediately be reached to provide additional details.