Fossar hosts a conference with Icelandic and Swedish pension funds
Fossar Markets hosted a conference titled Iceland – Sweden on June 19th, where the subject was foreign investments of the Icelandic and Swedish pension funds. Bjarni Benediktsson, the Icelandic prime minister gave an opening statement and Andri Gudmundsson managing director of Fossar Markets in Sweden served as the moderator.
The speakers were Stefan Halldorsson, project manager at The Icelandic Pension Funds Association, Kerstin Hessius CEO of the Swedish pension fund AP3, Magnus Billing, CEO of Alecta and Michael Kjeller head of asset management at Folksam. Stefan compared the pension systems of Iceland and Sweden, but the representatives from Sweden discussed how and on what terms their funds invest outside of Sweden.
The conference was well received, with over 100 attendees, amongst those were representatives from the Icelandic pension funds, the Icelandic Parliament and the Central Bank of Iceland.
The prime minister of Iceland welcomed the initiative taken by Fossar Markets hosting the event in his opening statement and announced the installment of a working group that will review the role of the pension funds in further development of Icelandic business infrastructure. The asset allocation of the Icelandic pension funds has been prominent in the social debate due their size in contrast to the Icelandic economy. At the end of 2015, the assets of the Icelandic pensions amounted to 150% of GDP, and they owned half of the share capital in listed companies in Iceland.
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