AMWatch

EUR 3.3 billion manager bets crisis is getting worse - dumps risk

The CIO at Veritas is pessimistic about the impact of coronavirus on the 'real economy'.

Kari Vatanen, CIO at Veritas. | Photo: PR/ Veritas

The investment chief of Veritas Pension Insurance Kari Vatanen says he doesn’t understand why there are glimmers of hope in equity markets, as he sells stocks and buys government bonds to protect his portfolio.

"There is a lot of optimism at the moment in the equity market that the crisis will soon be over, but I don’t believe it will," says Vatanen, who oversees EUR 3.3bn (USD 3.6bn) as chief investment officer of Veritas in Finland.

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