Finland's Varma Mutual Pension Insurance Company revealed that it would be making more investments in equities in the second quarter of this year. The pension fund, which is also Finland's biggest private investor, said the shift will be in line with the company's strategy of getting higher returns for its investments. In the first quarter, the Finnish fund said equities only made up 30% of its portfolio.However, they have raised their equities investment to 36% for the second quarter. The company said that they were putting more money in equities as it yielded returns of 7.1 percent. Fixed income investments, meanwhile, only gave returns of 0.2%.
Varma's total investment assets were pegged at EUR 36 billion at the end of June this year. The total return of its investments was 3.2% for the first half of 2013. According to their website, Varma manages the earnings-related pension cover of about 870,000 people. Its clients include 70,000 entrepreneurs and employers. The company also said that it is a "financially solvent and long-term investor whose responsibility for pension assets extends far into the future."
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