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
Alecta loses in arbitration over loss-making Heimstaden Bostad holding
Swedish pensions giant’s CEO Peder Hasslev: ‘Good we now have more clarity’
Sweden’s FI launches probe into costly individual occupational pensions
Financial watchdog delivers government-mandated mapping report of pensions and investment costs
Iceland’s pension fund consolidation has further to go
Fewer pension funds mean more robust entities, but some diversity is good too, says LL chief
Frjálsi, Farmers’ Pension Fund emerge as latest Icelandic pensions fusion
Frjálsi Pension Fund set to boost its AUM to ISK622bn after signing letter of intent to merge with LSB
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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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.
Denmark’s pension funds offer a template for an innovative defence investments play
The tone of Europe’s political debate on defence expenditure has shifted markedly this year. And as former Netherlands defence minister Kajsa Ollongren, put it in a Chatham House Q&A in early March: “The mindset should be ‘war economy’.”
Alecta loses in arbitration over loss-making Heimstaden Bostad holding
Swedish pensions giant’s CEO Peder Hasslev: ‘Good we now have more clarity’
Sweden’s FI launches probe into costly individual occupational pensions
Financial watchdog delivers government-mandated mapping report of pensions and investment costs
Iceland’s pension fund consolidation has further to go
Fewer pension funds mean more robust entities, but some diversity is good too, says LL chief
Frjálsi, Farmers’ Pension Fund emerge as latest Icelandic pensions fusion
Frjálsi Pension Fund set to boost its AUM to ISK622bn after signing letter of intent to merge with LSB
FTN doubles fee as tender work proves more laborious than expected
Sweden’s Fund Selection Agency to hike its tender fee from next year, while cutting annual monitoring fee for older funds
Frjálsi to merge with LTFÍ after unanimous member vote
In latest Icelandic pension fund merger to be approved by scheme members, fifth-largest provider Frjálsi to add 2% to total assets
NBIM talks up active management success, moves to increase SWF’s risk
Manager of Norway’s sovereign wealth fund tells government active management has been more profitable in last five years than before
Almenni-Lifsverk to become Iceland’s fifth largest pension fund after vote
Brú and Akureyri pension funds receive confirmation of their merger from ministry
IPE Nordic Briefing: Norway’s Council on Ethics comes to a halt
Norway withdraws ethical investment rules for its sovereign wealth fund
Sweden urges financial firms to prepare for wartime operation
FI acting chief Alpen says ‘serious global situation’ creates new demand to develop the sector’s emergency preparedness
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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