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State Pension Fund and Pohjola Asset Management Ltd to Extend Their Partnership in Portfolio Administration Service

April 26, 2013 - London

The State Pension Fund (VER) and Pohjola Asset Management will extend their partnership in portfolio administration service that started in 2008, under which VER has outsourced to Pohjola Asset Management the back office activities and reporting of its investment operations. In the spring, Pohjola Asset Management won a tender for the service package for the next contract period. The duration of the new agreement is at least five years.

According to the new agreement, Pohjola Asset Management will provide VER with the portfolio administration service covering the entire portfolio. The service includes back office activities, limit monitoring, return and risk reporting, reporting to relevant regulators and authorities, securities accounting and the required system development work.

- The portfolio administration service for VER, which numbers among the biggest institutional investors in Finland, is large and challenging one as whole, which is only highlighted through the large size of VER's investment portfolio. Extending our cooperation that has lasted for five years now is a great reward for Pohjola Asset Management's investments in comprehensive services for insurance and pension companies, says Karri Alameri, President of Pohjola Asset Management Ltd.

Pohjola Asset Management has made dedicated efforts to develop portfolio management and administration, return and risk reporting services and related systems for institutional investors, and is capable of providing the most extensive services available in the sector.

- At the turn of the year, we put portfolio administration services out to tender, which Pohjola Asset Management won as it continued to prove the best choice capable of providing VER with the extensive range of services that it needs, explains Tiina Tarma, Legal Counsel, State Pension Fund.

For more information, please contact:

Karri Alameri, President, Pohjola Asset Management Ltd, tel. +358 (0)45 6565 250
Rami Kinnala, Chief Operating Officer, Pohjola Asset Management Ltd, tel. +358 (0)50 555 2669
Tiina Tarma, Legal Counsel, State Pension Fund, tel. +358 (0)50 469 3822

Pohjola Asset Management Ltd is part of Pohjola Group and OP-Pohjola Group. It provides institutional clients and wealthy individuals with a highly extensive range of asset management services. It has a leading position as the asset manager of both Finnish institutions and wealthy private individuals. Pohjola Asset Management has a staff of around 150 investment experts and assets under management totalled 32.7 billion euros on 31 December 2012.

Pohjola is a Finnish financial services group which provides its customers with banking, non-life insurance and asset management services. Pohjola's mission is to promote the sustainable prosperity, security and wellbeing of its customers. Profitable growth and an increase in company value form our key objectives. Pohjola Group serves corporate customers in Finland and abroad by providing an extensive range of financial, investment, cash-management and non-life insurance services. We offer non-life insurance and private banking services to private customers. Pohjola Series A shares have been listed on the Large Cap List of the NASDAQ OMX Helsinki since 1989. The number of shareholders totals around 32,000. Pohjola's consolidated earnings before tax came to 374 million euros in 2012 and the balance sheet total amounted to 45 billion euros on 31 December 2012. Pohjola is part of OP-Pohjola Group, the leading financial services group in Finland, which has over four million customers.

Founded in 1990, the State Pension Fund (VER) is an out-of-the State Budget fund helping the Finnish State in covering future pension liabilities and balancing the payment of future pensions. As an investment organisation, VER is tasked with managing assets entrusted to it on a long-term basis and ensuring that its investments are secure, yield a return and can be converted into cash and that they are appropriately diversified. On 31 December 2012, assets under VER's management totalled EUR 11.4 billion.

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Source: Pohjola Pankki Oyj via Thomson Reuters ONE



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