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A $53 Billion Fund Is Looking for Illiquid Assets

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One of the Nordic region’s biggest pension funds is busy reducing its stash of government bonds as it hunts for far less liquid assets in the hope of generating higher returns.

Ilmarinen Mutual Pension Insurance Co., which oversees about 48 billion euros ($53 billion) from its office in Helsinki, is trying to figure out how best to operate in a world in which large chunks of the debt market trade at negative yields.