The governor of Iceland's Central Bank, Ásgeir Jónsson, has called for greater foreign investment by Icelandic pension funds and for the current 50 percent ceiling for foreign assets to be raised, reports IPE.com.
The country's pension funds total assets broke the ISK 6,000bn (EUR 40bn) mark – which is almost 200 percent of GDP – in March this year, according to Iceland's central bank Seðlabanki Íslands. Roughly 34 percent of all assets are currently invested abroad, so just increasing allocations to 50 percent would imply a shift of around EUR 6.5bn from domestic holdings. Much of this could be handed to international asset management firms.
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