Only real estate of all asset classes pulled in a positive return at Finland's pensions giant Varma, who announced its half-year results on Friday. Returns for the portfolio totaling EUR 45.3bn at the end of June stood at negative -5.7 percent. The result is still negative, but an improvement from the first quarter when total return stood at -10 percent, says Varma’s President and CEO Risto Murto at a press conference in Helsinki.
"We have received more positive news since the first quarter than negative, although it doesn’t always feel like it," he adds.
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