FINLAND – The €300m Suomen Pankki pension fund, the newly-created pension scheme for employees at the central bank of Finland, is looking for asset managers to run a €250m passive equity and euro-zone bond mandate.
The final number of managers the fund will employ and the way the mandate will be split into portfolios have not yet been determined but the second phase of the process will invite a shortlist of up to eight managers to make more detailed presentations. The appointments are expected to be made in June.
The fund’s initial assets of €300m are taken from the bank’s balance sheet where they are classified as pensions liabilities. The pension fund was set up in January and currently has 300 active members.