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Finland’s Post Group is to transfer the management of its supplementary pension cover to E1.1bn Pohjola Life and its statutory employee pension cover to E19.2bn Ilmarinen. The liabilities of the Post Pension Fund total E462m. Aker Finnyards Pension Fund is to also dissolve its E150m pension fund and transfer the management of its pensions to Varma. Completion of both transfers is expected to take place at the end of 2005.
GES Investment Services, the Stockholm-based SRI anaysis firm, has launched a new screening facility for institutional investors. The GES Engagement Forum provides guidance to investors about companies’ compliance with international conventions and other guidelines on environmental issues, human rights and business ethics. GES’s screening process involves negotiations with companies’ accused of violating ethical norms. Information on these will be made available to investors on the Forum’s website.
Swiss Capital Group, the $1.5bn Swiss alternative investments firm, is looking to expand into the Nordic region. Currently 90 per cent of the company’s clients are Swiss – some 50 per cent of these are pension and the remaining private banks.
