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| Author: | Puttonen, V. Torstila, S. |
| Title: | Risk management in Finnish pension funds: A survey |
| Journal: | Liiketaloudellinen aikakauskirja
2003 : VOL. 52:1, p. 31-46 |
| Index terms: | Risk management Pension funds Finland Nordic countries |
| Language: | eng |
| Abstract: | This study presents results from a survey of risk management practices at 20 Finnish corporate pension funds. The survey was carried out in February-March 2002. A total of 20 corporate pension funds were identified as the target population of the survey. The funds surveyed have a total of 8.1 billion euros of assets under management. 54% of this wealth is allocated to fixed income instruments, 29% to equity, 15% to real estate, and 1% to other investments such as private equity. Many of the Risk Standards proposed by the Risk Standards Working Group (1996) have been well implemented. In many other areas of risk management, however, Finnish pension funds present an unfavorable contrast to U.S. survey data. Additional work remains to be done in such diverse areas as risk measurement, historical and stress testing, and external oversight. |
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