Valtion Elakerahasto, Helsinki, is searching for a custodian for its fixed-income, equity and real estate investment trusts and exchange traded funds' investments, according to a notice on European procurement website Tenders Electronic Daily.
VER will hire a custodian bank that provides securities trade settlement and safekeeping, corporate actions, income collection and proxy voting services.
In addition, the service provider must have the ability to include other asset classes that may be added to VER's portfolio at a later time.
The contract begins Feb. 1.
BNY Mellon is the current custodian of the €20 billion ($22 billion) pension fund and is invited to rebid, provided it meets criteria, a VER spokeswoman said.
Submissions are due by 12.30 p.m. Central European Time on Nov. 29.