Results Finland’s smallest pension company increased its pension assets by EUR 500 million – Occupational pension investors say good year 2021

Finland Veritas, the smallest employment pension company, increased its deferred pension assets by EUR 500 million in 2021. Veritas said on Thursday that the company’s investments returned 12.6 percent during the year.

In the previous year, the income of a small occupational pension company was 5.6 per cent. In the fourth quarter of 2021 alone, Veritas’ investments returned four percent.

On Thursday, Keva, Finland’s largest pension investor, will also report on its results. On Friday, the publishers will be the large employment pension companies Ilmarinen and Varma.

Veritas characterized 2021 as the best of the entire 21st century. Veritas received a particularly good return on equity investments in 2,021, which returned 25.2 percent.

Veritas calculates that the company’s investments have returned almost one percent over the past ten years. The average annual return during this period has been 7.2 percent.

At the end of 2021, the fair value of Veritas’ pension assets was EUR 4,376 million, an increase of half a billion euros last year.

“Veritas made a strong result in investment and customer acquisition. Customer retention improved further during the year, and we also gained a record number of new customers, ”Veritas said. managing director Tommy Sandås says in a company release.

Veritaxel has the Finnish Financial Supervisor considers that he has served as chairman of the NCB, Carl Haglund is not qualified as the managing director of an occupational pension company.

The Financial Supervision Authority (Fiva) says it will re-evaluate Haglund’s skills at the end of the training period in July 2022.

Veritas Kari Vatanen, Investment Director, estimates in the company’s press release that 2021 was a year of recovery in the investment market and subsequent inflation. 2022 could be a year of stagnation as the central bank after another slows down the stimulus and tightens its monetary policy.

“2022 is a difficult year for institutional investors. Tightening monetary policy and rising interest rates could penalize all types of assets if the valuations pumped up through the central bank reprimand begin to be questioned in the market, ”says Vatanen, Chief Investment Officer, in the company’s press release.