The strategic objective of the Church Pension Fund’s investment activities is to accumulate pension assets in a profitable, secure and responsible manner. Investments in the Pension Fund are effectively diversified by asset class and geographical area.
The Pension Fund is active in portfolio management, examining new investment opportunities, managing investment risks, as well as in monitoring world events and markets. Cooperation with asset managers and active dialogue with stakeholders enable successful investment activities.
Like other pension investors, the Pension Fund is a long-term investor. The Pension Fund actively manages investment risks. Investments are allocated across different asset classes, geographical areas, sectors, asset managers and investment styles. The Pension Fund makes direct investments in equity and real estate sectors. A significant proportion of the investments are implemented with the help of asset managers, which emphasises the selection of asset managers and investment products. The Pension Fund investment team cooperates closely across asset classes and actively monitors the return and risk perspectives of the investment portfolio, as well as world events and markets.
The Pension Fund is committed to responsible investment activities. Responsibility and sustainability aspects are comprehensively considered in investment activities. The Pension Fund continuously develops responsibility and sustainability aspects, as part of its investment activities, as well as its active ownership practices and influence as an investor. The Pension Fund is known as a Finnish pioneer in responsible investment.
The history of the Church Pension Fund dates back to 1991. Investment assets have accumulated steadily over the years. The strategic objective of the Church Pension Fund’s investment activities is to accumulate the assets to cover pension liabilities in a profitable, secure and responsible manner. Investments in the Pension Fund are effectively diversified by asset class and geographical area.
Investments are allocated across different asset classes, geographical areas, sectors, asset managers and investment styles.
Publicly quoted equity investments are globally allocated into Finland, Europe, North America, Japan, emerging markets, global shares and venture capital investments.
The Pension Fund makes direct equity investments in Finnish and partly European shares through discretionary asset management. When investing outside Europe, the Pension Fund mainly uses fund investments. Part of the fund investments are made as passive index investing and part as active fund investing.
Breakdown of Pension Fund’s equity investments 31 December 2025
Annual returns on Pension Fund’s equity investments
Fixed-income investments are allocated into government bonds, Investment Grade corporate bonds, High Yield corporate bonds, emerging market loans, short-term investments, money market investments and alternative fixed-income investments.
The fixed-income investments of the Pension Fund are generally managed through mutual funds.
Breakdown of Pension Fund’s fixed-income investments 31 December 2025
Annual returns on Pension Fund’s fixed-income investments
Alternative investments are allocated into real estate investments (real estate and forest investments), absolute return investments and derivatives.
Returns on alternative investments are not expected to correlate significantly with fixed-income and equity investments. The common factor of alternative investments is that the investments are long-term and involve a higher liquidity risk.
Breakdown of Pension Fund’s alternative investments 31 December 2025
Annual returns on Pension Fund’s alternative investments
The Church Pension Fund considers responsibility and sustainability aspects in all its investment activities. By investing responsibly, the Pension Fund ensures a good return on its investments and effective management of investment risks.
