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Keva

PRI reporting framework 2019

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

The future pensions of local government employees are provided for by means of the pension liability fund.

The mission of Keva’s investment operations is to invest the fund’s assets in such a manner that the investment returns make it possible for the pension contribution to remain at a predictable and stable level far into the future. We also ensure that sufficient funds that can quickly and economically be converted into cash are available for the payment of pensions under all circumstances.

The aim of Keva’s investment operations is to maximise the pension fund’s long-term return. This aim is pursued by both making direct investments and drawing on the specialised expertise of our partners. Our investment strategy relies on making use of the pension fund’s structural competitive advantages – our long time horizon and sufficient size – and on careful risk management.


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Finland

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

537 FTE

02.4. Additional information. [Optional]

Keva is an independent public corporation which operates in accordance with the Local Government Pensions Act (KuEL). The Institution is supervised by the Ministry of Finance. Our member organizations include all Finnish cities, other municipalities and joint municipal boards. Municipal associations and limited liability companies may also apply for membership.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 5 10-50% 29
Fixed income 10-50% 22 10-50% 13
Private equity <10% 1 <10% 8
Property <10% 5 <10% 2
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 <10% 8
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 6 0 0
Money market instruments <10% 1 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

86.28 Developed Markets
13.05 Emerging Markets
0.67 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

The percentages above include some 85.13% of AUM and are scaled up to total 100%. The 14.87% not included in the classification above in our reporting system (Barra), consists of a multi-currency cash position 7.08%, alternatives 4.98% and fixed income 2.8%. Of the 14.87% figure, a total of 12,73% are interested in EMU area. Whilst a majority of this could be classified as developmed markets, it also includes emerging and frontier markets. Consequently, we decided to report as above and supply this footnote. 

 


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