Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,262.56 89.32 0.55%
S&P 500 1,842.98 12.37 0.68%
NASDAQ 4,034.16 11.47 0.29%
Ticker Volume Price Price Delta
STOXX 50 3,119.58 28.06 0.91%
FTSE 100 6,577.36 35.75 0.55%
DAX 9,250.75 77.04 0.84%
Ticker Volume Price Price Delta
NIKKEI 14,417.68 420.87 3.01%
TOPIX 1,166.55 30.46 2.68%
HANG SENG 22,696.01 24.75 0.11%

Pohjola Pankki Oyj : State Pension Fund and Pohjola Asset Management Ltd to Extend Their Partnership in Portfolio Administration



 Pohjola Pankki Oyj : State Pension Fund and Pohjola Asset Management Ltd to
         Extend Their Partnership in Portfolio Administration Service

The State Pension Fund (VER) and Pohjola Asset Management will extend their
partnership in portfolio administration service that started in 2008, under
which VER has outsourced to Pohjola Asset Management the back office
activities and reporting of its investment operations. In the spring, Pohjola
Asset Management won a tender for the service package for the next contract
period. The duration of the new agreement is at least five years.

According to the new agreement, Pohjola Asset Management will provide VER with
the portfolio administration service covering the entire portfolio. The
service includes back office activities, limit monitoring, return and risk
reporting, reporting to relevant regulators and authorities, securities
accounting and the required system development work.

- The portfolio administration service for VER, which numbers among the
biggest institutional investors in Finland, is large and challenging one as
whole, which is only highlighted through the large size of VER's investment
portfolio. Extending our cooperation that has lasted for five years now is a
great reward for Pohjola Asset Management's investments in comprehensive
services for insurance and pension companies, says Karri Alameri, President of
Pohjola Asset Management Ltd.

Pohjola Asset Management has made dedicated efforts to develop portfolio
management and administration, return and risk reporting services and related
systems for institutional investors, and is capable of providing the most
extensive services available in the sector.

- At the turn of the year, we put portfolio administration services out to
tender, which Pohjola Asset Management won as it continued to prove the best
choice capable of providing VER with the extensive range of services that it
needs, explains Tiina Tarma, Legal Counsel, State Pension Fund.

For more information, please contact:

Karri Alameri, President, Pohjola Asset Management Ltd, tel. +358 (0)45 6565
250
Rami Kinnala, Chief Operating Officer, Pohjola Asset Management Ltd, tel. +358
(0)50 555 2669
Tiina Tarma, Legal Counsel, State Pension Fund, tel. +358 (0)50 469 3822

Pohjola Asset Management Ltd is part of Pohjola Group and OP-Pohjola Group.It
provides institutional clients and wealthy individuals with a highly extensive
range of asset management services.It has a leading position as the asset
manager of both Finnish institutions and wealthy private individuals.Pohjola
Asset Management has a staff of around 150 investment experts and assets under
management totalled 32.7 billion euros on 31 December 2012.

Pohjola is a Finnish financial services group which provides its customers
with banking, non-life insurance and asset management services.Pohjola's
mission is to promote the sustainable prosperity, security and wellbeing of
its customers.Profitable growth and an increase in company value form our key
objectives.Pohjola Group serves corporate customers in Finland and abroad by
providing an extensive range of financial, investment, cash-management and
non-life insurance services.We offer non-life insurance and private banking
services to private customers.Pohjola Series A shares have been listed on the
Large Cap List of the NASDAQ OMX Helsinki since 1989. The number of
shareholders totals around 32,000. Pohjola's consolidated earnings before tax
came to 374 million euros in 2012 and the balance sheet total amounted to 45
billion euros on 31 December 2012. Pohjola is part of OP-Pohjola Group, the
leading financial services group in Finland,which has over four million
customers.

Founded in 1990, the State Pension Fund (VER) is an out-of-the State Budget
fund helping the Finnish State in covering future pension liabilities and
balancing the payment of future pensions.As an investment organisation,VER is
tasked with managing assets entrusted to it on a long-term basis and ensuring
that its investments are secure, yield a return and can be converted into cash
and that they are appropriately diversified.On 31 December 2012, assets under
VER's management totalled EUR 11.4 billion.

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Pohjola Pankki Oyj via Thomson Reuters ONE
HUG#1696734
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement