Nordic Region Investment and Pensions
Latest news and analysis of pensions, asset management, regulation and trends in the Nordic Region from our award-winning journalists.
Pension Funds in the Nordic Region - Country Report
Nordic Region pension funds report 2025: ATP hits back at critics on risk structure
An academic discussion in a leading business journal has spilled over into a fully fledged debate with the fund’s leadership
Industriens stows €300m into Goldman Sachs European direct credit fund
Danish pension fund says commitment is its biggest unlisted credit investment yet, as allocation to the asset class expands
Alecta off hook over US bank losses after watchdog drops probe
Swedish pensions major is “stronger and safer” now, since implementation of its improvement programme, says CEO Hasslev
Finnish pensions reform to deliver twice the public finance boost it targeted
Pensions lobby TELA says ‘strongly supports’” approval of the bill
AP7 tightens climate exclusions, drops Chevron, Petrobras
Swedish pensions giant accelerates pace of climate blacklistings, ruling out 35 companies in latest announcement
TOP NORDIC REGION PENSION FUNDS 2025
Pension fund/entity | Assets (€’000)
Denmark
- PFA Pension | 110,970,374
- Arbejdsmarkedets Tillaegspension (ATP) | 96,249,172
- Danica Pension | 73,685,503
Finland
- Keva | 70,700,000
- Varma Mutual Pension Insurance Co. | 65,364,566
- lmarinen | 64,409,516
Iceland
- Lífeyrissjóður starfsmanna ríkisins | 10,844,672
- Lífeyrissjóður verslunarmanna | 10,089,045
- Gildi lífeyrissjóður | 7,798,458
Norway
- Norway Government Pension Fund Global | 1,657,449,581
- Kommunal Landspensjonkasse (KLP) | 101,052,311
- Folketrygdfondet | 32,227,823
Sweden
- Sjunde AP-fonden (AP7) | 125,029,388
- Alecta Pensionsförsäkring | 121,161,572
- AMF | 73,990,350
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
Interviews
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To build capital markets that work for people, Europe should look to Sweden
Sweden’s capital market success offers the EU a practical model for building inclusive, resilient markets
Sweden’s stockmarket star shines for Europe
If trade wars and the decline of the dollar against the euro hadn’t already spooked them enough this year, European investment committees might be forgiven for worrying about the sector concentration of their portfolios after the equity market rally since the spring.
Industriens stows €300m into Goldman Sachs European direct credit fund
Danish pension fund says commitment is its biggest unlisted credit investment yet, as allocation to the asset class expands
Heads down at Sweden’s buffer funds for reform’s ‘intense’ endgame
With only a few days to go, AP funds use working groups and guidance from government special coordinators to pin down how assets should be transferred
Alecta off hook over US bank losses after watchdog drops probe
Swedish pensions major is “stronger and safer” now, since implementation of its improvement programme, says CEO Hasslev
Finnish pensions reform to deliver twice the public finance boost it targeted
Pensions lobby TELA says ‘strongly supports’” approval of the bill
AP7 tightens climate exclusions, drops Chevron, Petrobras
Swedish pensions giant accelerates pace of climate blacklistings, ruling out 35 companies in latest announcement
PFA reveals DKK40bn equities revamp cashed in on tariff-jitters bargains
“Timing could hardly have been more challenging,” says Danish pensions CIO of lifecycle profiles restructuring
To build capital markets that work for people, Europe should look to Sweden
Sweden’s capital market success offers the EU a practical model for building inclusive, resilient markets
IPE Nordic Briefing: Danish pension funds keen to invest in defence sector
Plus: Norges Bank Investment Management unveils new strategy plan for the Government Pension Fund Global
Rantala report urges major overhaul of self-employed pensions in Finland
Jukka Rantala, former head of Finnish Centre for Pensions, puts forward proposals for increasing transparency and improving pensions adequacy for the self-employed
Norway’s SWF unveils new strategy plan, as experts criticise top-down allocation
NBIM’s new three-year strategy plan outlines changes to real estate approach and sets out the fund’s priorities
TOP MANAGERS: NORDIC REGION INSTITUTIONAL ASSETS
Company | Assets (€m)
- SEB | 109,623
- BlackRock | 78,898
- DNB Asset Management | 65,089*
- State Street Global Advisors | 41,457
- Nordea Asset Management | 40,819
- Nykredit Asset Management | 29,648
- Storebrand Asset Management | 28,784
- Northern Trust Asset Management | 28,421
- BNP Paribas Asset Management | 21,095
- Jyske Capital, Jyske Bank | 10,093
As at 30.9.3.24, *12.11.24
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
IPE BEST PENSION FUND IN THE NORDIC REGION AWARD WINNERS
Nordic Region
- 2023 - The Swedish Fund Selection Agency
Denmark
- 2022 - Industriens Pension
- 2021 - PensionDanmark
- 2020 - PensionDanmark
- 2019 - ATP | PensionDanmark
Norway
- 2022 - KLP
Sweden
- 2022 - Alecta pension insurance, mutual
- 2021 - Fjärde AP-fonden (AP4)
- 2020 - Fjärde AP-fonden (AP4)
- 2019 - Swedish Pensions Agency
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