Financial information and investments
The return on Veritas’ investments was -0.3 per cent in the first quarter of the year. The return on fixed-income investments was -0.4 per cent, equity investments -0.7 per cent, real estate -0.2 per cent and other investments 1.9 per cent.
“This year started with turmoil and the return on investments turned negative. Fear of the escalation of the Iranian crisis drove the return on listed equities into the negative at the turn of the quarter. However, the investment year is just beginning and anything can happen as we move forward”, says Laura Wickström, CIO at Veritas.
In April, equity markets have largely recovered from the shock caused by the war in Iran, and the return on Veritas’ investments has climbed clearly into positive territory.
- Press release: Veritas Interim Report 1 January–31 March 2026: Equity market volatility pushed investment returns slightly into negative territory (23 April 2026)
- Interim Report 1 January–31 March 2026 (pdf)
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Investment allocation by asset class
31 March 2026
Investment activities
We invest our accrued funds profitably and securely as a means of ensuring future pensions. The aim of our investment activities is to achieve the best possible return in order to ensure sustainable funding for pensions.
Our investment activities are professional, independent and responsible. We utilise a wide range of different revenue sources and diversify our investments internationally among different asset classes. Our investments comprise fixed-income investments, equity investments, real estate investments and other alternative investments.
Solvency
Veritas solvency remained at a secure level and the solvency position was 1.4 times the solvency limit. The solvency ratio was 123.7 per cent at the end of March.
The solvency capital serves as a risk buffer for the purposes of our investment activities and against insurance risk. It determines the pension provider’s capacity to bear risk and pursue higher returns on investment activities. High investment returns increase a pension provider’s solvency and, correspondingly, the solvency decreases during weaker investment years.
Veritas’ solid solvency position safeguards pension funds
Ownership policy
The ownership policy outlines how we identify ourselves as an owner, what our expectations are and how we exercise our rights conferred by our holdings.
Market sounding
At Veritas, only Chief Executive Officer Elina Fogelholm, Chief Investment Officer Laura Wickström (all other investments than equities listed in Finland) and Equity Portfolio Manager Kim Fors (equities listed in Finland) are entitled to receive market soundings.
Market soundings must be sent by email (firstname.lastname@veritas.fi), unless the recipient has given express permission to use an alternative method.