AMWatch

SPACs fail to convince Finnish pension giants – Varma, Ilmarinen and Veritas explain why

Whilst Swedish pension investors AP4, AMF and SEB Fonder invested in the country's first SPAC, Finland's initial shell listing, launched earlier this month, failed to attract domestic pension investors.

CIOs of Finnish pension companies Reima Rytsölä (top left), Kari Vatanen (bottom left) and Mikko Mursula (right) have not categorically said no to SPACs.

The main reason why Finnish pension giant Ilmarinen is not currently investing in SPACs is the inherent lack of transparency, the CIO of the EUR 55.4bn fund Mikko Mursula tells AMWatch. 

"The difficulty with SPACs is that it is like giving a blank check to a sponsor, who then tries to find a suitable investment target for three years.

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