The Finnish FM70bn (€11.8bn) pension fund for local authority employees (LGPI), will increase its equity holdings from 45% to 60% of total assets.

LGPI will invite external managers to handle some of the extra €1.8bn in equities, which was previously mostly invested in Finnish investments, particularly fixed income. The fund has also benefited from strong returns of 19.3% last year - a boost of almost FM10bn [€1.7bn].