"We've received more positive than negative news since Q1 although it doesn’t always feel like it," says Varma's CEO

Varma is talking more about reducing its 28 percent exposure to Finland, instead of expanding it, notes Varma's President and CEO in an in-between-lines response to minister of economic affairs. Mika Lintilä recently called for pension companies to discuss increasing investments in the domestic realm.

Risto Murto, President and CEO of Varma Mutual Pension Insurance Company. | Photo: Varma PR.

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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