€24bn Finnish fund loses manager selector

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  • €24bn Finnish fund loses manager selector

FINLAND - The head of external equity manager selection at the Local Government Pensions Institution (LGPI), Finland's largest retirement fund, has left her post.

It is understood that Niina Bergring has moved to Nordea's Finnish office to team up with Staffan Sevon, who was LPGI's head of equity investments until two years ago.

A full-time replacement for Bergring is expected soon but in the interim, Päivi Palomäki, head of internal equity management at the €24bn fund, is handling Bergring's responsibilities.

In its annual report for 2007, the fund states a total of €6.6bn (56%) of the entire equity portfolio was allocated to external asset managers.

Neither LGPI nor Nordea were not available for comment at the time of publication.

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