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Home BUSINESSPension schemes' financial assets continue to grow
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Mon, 01 Jul, 2013 12:05:59 AM
FTimes Report, July 01
Sources - Statistics Finland
The general government net financial assets amounted to EUR 110.2 billion at the end of the first quarter of 2013 with an increase of EUR 3.6 billion during the period, according to the data of the Statistics Finland.
The growth is mainly attributed to holding gains accrued for employment pension schemes.
The general net financial asset is counted by deducting the amount of government liabilities from its financial assets.
The data derived from general government financial accounts compiled by Statistics Finland showed that the central government’s financial assets grew mainly due to an increase in the market values of their shareholdings in the first quarter of 2013.
However, the net financial assets of central government decreased from EUR -42.2 billion to EUR -43.1 billion mainly as a result of growth in the bond stock.
Even though central government’s net financial assets hit an all time low, the combined net financial assets of general government grew from EUR 106.6 billion to EUR 110.2 billion.
The increase in net financial assets was mainly due to the increased value of social security funds’ financial assets. Boosted by rising stock market prices, the financial assets of social security funds grew by EUR 5.1 billion to EUR 157.8 billion at the end of the quarter.
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