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
New Norway SWF council questions tech weightings, sovereign debt criteria
‘Strengthened preparedness’ needed to manage GPFG’s geopolitical risk, advises three-strong permanent panel of experts
AMF splits equities management into domestic, foreign, to boost return chances
Swedish blue-collar pension fund says creating two equities departments will ‘clarify and streamline the work and improve our opportunities to create a competitive return’
Finnish member of parliament appointed TELA chief executive officer
Finnish pensions lobby group appoints MP Saara-Sofia Sirén to replace Suvi-Anne Siimes this summer
Danish pension funds lose their appetite for US assets
Selling US Treasuries is not a ‘weapon’, says Copenhagen professor, but the bonds are viewed as having become too uncertain
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.
New Norway SWF council questions tech weightings, sovereign debt criteria
‘Strengthened preparedness’ needed to manage GPFG’s geopolitical risk, advises three-strong permanent panel of experts
AMF splits equities management into domestic, foreign, to boost return chances
Swedish blue-collar pension fund says creating two equities departments will ‘clarify and streamline the work and improve our opportunities to create a competitive return’
Finnish member of parliament appointed TELA chief executive officer
Finnish pensions lobby group appoints MP Saara-Sofia Sirén to replace Suvi-Anne Siimes this summer
Danish pension funds lose their appetite for US assets
Selling US Treasuries is not a ‘weapon’, says Copenhagen professor, but the bonds are viewed as having become too uncertain
Varma stubs out tobacco blacklist in responsible investment rethink
Finnish pension giant shifts from exclusion to engagement but says tobacco could still be uninvestable
PFA holds off after last year’s US bond exit over Trump
Sampension says poll shows nearly 70% of Danes fear global developments – with Trump in power – will hit their pension savings
Sweden’s AP3, AP4 see savings from AP1 axing starting from 2027
Stockholm-based pensions buffer fund duo says reform-mandated transfer of assets from defunct peer complete, bar under 2% private assets to be managed separately for now
IPE Nordic Briefing: Greenland’s only pension fund sticks to strategy
Plus: Sweden’s AP1 and AP4 close down as the reform of the country’s five national pension buffer funds takes effect
AkademikerPension blames weak 2025 partly on in-house equities transition
Danish pension funds post returns of up to 14% for last year, with US dollar hedging having been crucial for success, according to consultant
Swedish FTN, Pensions Agency hire MSCI ESG Research, Clarity AI for green analysis
Procurement succeeds after hiccup in earlier process, when nine out of 10 tenders had failed to meet mandatory requirements
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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