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
Full dollar hedge, US equities underweight shines ATP’s 2025 return
Danish statutory pension scheme admits being unable to maintain purchasing power of pensions
AkademikerPension uses repo innovation to boost risk, return potential
Danish pension fund CIO says rationale for levering up came down to the characteristics of the scheme members
Norway’s SWF manager sees increased risk of AI correction
GPFG returns 15.1% in 2025, with equities and unlisted renewable energy infrastructure leading gains
Icelandic pension majors eye merger, creating biggest pension fund with €15bn
Pension Fund of Commerce and Birta agree to explore feasibility of merging, increasing operating efficiency
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.
Full dollar hedge, US equities underweight shines ATP’s 2025 return
Danish statutory pension scheme admits being unable to maintain purchasing power of pensions
AkademikerPension uses repo innovation to boost risk, return potential
Danish pension fund CIO says rationale for levering up came down to the characteristics of the scheme members
Norway’s SWF manager sees increased risk of AI correction
GPFG returns 15.1% in 2025, with equities and unlisted renewable energy infrastructure leading gains
Icelandic pension majors eye merger, creating biggest pension fund with €15bn
Pension Fund of Commerce and Birta agree to explore feasibility of merging, increasing operating efficiency
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’
Iceland’s LV pension fund pulls off major strategy overhaul
CIO Arne Vagn Olsen explains to Rachel Fixsen how Iceland’s second-largest pension fund has fundamentally changed how it operates
Greenland’s pension fund to boost home-turf investment
SISA Pension has increased domestic investments over the last few years but cites due diligence as barrier
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 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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