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Alternative investments

The alternative investments of the Church Pension Fund have been diversified to three sub-portfolios: real asset investments (real estate and infrastructure investments), absolute return investments and derivatives.

The Church Pension Fund's alternative investments on 31.12.2021.

Real asset investments 88%, Absolute return 12%, and Derivatives 0%.

The return on alternative investments is not expected to significantly correlate with fixed-income and equity investments. The biggest uniting factor for alternative investments is that the investments are long-term and carry a greater liquidity risk.

Annual returns for the alternative investments 2015-2021*:

2015 10.0%, 2016 6.5%, 2017 9.8%, 2018 7.9%, 2019 7.2%, 2020 10.6%, and 2021 13.2%.

* Alternative fixed income is included in fixed income investments and private equity is included in equity investments since 2020.