Asset Owner Directory

Ilmarinen Mutual Pension

Ilmarinen is Finland’s largest private earnings-related pension insurance company. As a mutual pension insurance company, it is wholly owned by customers. Ilmarinen‘s primary task is to ensure that its customers receive the pension they earned from work. The company offers statutory employees’ and self-employed persons’ pension insurance for employers and entrepreneurs operating in Finland.



AUM ($B)




Chief Executive

Jouko Pölönen

Chief Investment Officer

Mikko Mursula


Pasi Laine

Asset allocation
Ilmarinen’s Board of Directors annually approves an investment plan that guides the investment activities and monitors its implementation. The plan lays down the targets for risk-taking and investment allocation, i.e. the distribution of investments across various asset classes. As of the December 31, 2020 asset allocation was as follows: Fixed Income (33%), Equity (47%), Real Estate (12%), Other Investments (8%)

33% Fixed Income

47% Equity

12% Real Estate

8% Other Investments related articles
Investor Profile

More in-house management means lower costs, risks for Finnish fund Ilmarinen

The 21.7 billion (US$28.7 billion) Ilmarinen Mutual Pension Insurance Company is adopting a ‘back to basic’ approach to investment and relying on its internal investment team to steer it through unprecedented equity market volatility. Deputy chief executive, Timo Ritakallio, talks to Kristen Paech about the virtues of in-house management. ilmarinenAsset Owner:Ilmarinen Mutual Pension
Asset Owner Directory