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Finnish parish awards mandates

Both managers were awarded circa EUR 90 million mandate each.

Janina Sibelius 2022-07-25

The church parish for the two Finnish coastal cities Turku and Kaarina, has awarded two mandates for the EUR 174 million investment portfolio it tendered last year.

Not surprisingly, the awarded mandates went to the asset management arms of two Nordic banks, OP and Nordea, of whom now hold EUR 87 million mandate each. The parish’s portfolio is currently divided into three separate funds with EUR 121.8 million and EUR 40 million and EUR 12.2 million in assets. The three funds are managed as separate portfolios with different strategies, however it is not clear how the assets were divided between the two asset managers. Photo by Miikka Airikkala

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