Return on investments

See the pension fund's returns on investments.

Monthly report for October 2023

The YTD return of P+ Balance accounted for 3.9 percent as of 31 October - down 1.9 percentage points compared to the end of September.

The month’s portfolio returns accounted for -3.2 percent for shares, -0.8 percent for credit bonds, -1.9 percent for real assets, 1.6 percent for special investments and 0.2 percent for bonds. 

October continued being impacted by a negative atmosphere on the markets where economic key indicators, the global political situation as well as the communication on the central banks' key interest rates put pressure on the markets. The tragic incidents in the Middle East also triggered uncertainty and contributed to the negative atmosphere, and especially the prices on raw materials are exposed to a possible further escalation.

The ECB held its key interest rate steady in line with market expectations. The Fed is also expected to maintain its key interest rate at the meeting in early November. The market was, however,  once again reminded about that the interest rates are probably maintained for a longer time than first expected which affected the markets negatively and made US interest rates skyrocket.

The previous interest rate hikes are still affecting the core inflation which continues to decrease in both the Eurozone and the US - the Eurozone decrease probably being a technical recession, while the US sees economic progress.

The markets are again facing a potential shutdown of the US government, depending on whether a solution to the US budget can be found. The agreement must be closed before mid-November, and until deadline er may see volatile markets.