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Finland's biggest pension fund selling US stocks on Trump fears

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Published Mon, Aug 28, 2017 · 09:50 PM

Helsinki

A LEADERSHIP vacuum in the world's biggest economy has driven the largest private-sector pension fund in Finland to cut the weight of US stocks in its 45 billion-euro (S$72 billion) portfolio.

"It seems as if there is no president in the US," Risto Murto, chief executive officer of Varma Mutual Pension Insurance Co, said in an interview in Helsinki on Wednesday. "If I look at what is the moral and practical power, there is no longer a traditional president."

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