Varma’s investments remain stable despite Iran war and energy crisis

The Finnish pension company Varma reported that its investment portfolio remained stable in early 2024 despite geopolitical tensions, including the Iran conflict and energy price volatility, according to a briefing by the Finnish news agency STT.

Varma’s investments saw a minor decline of 0.1 percent in the first quarter, with total assets valued at €67.9 billion. The company attributed its resilience to a diversified portfolio across regions and asset classes, which helped mitigate the impact of energy price spikes affecting multiple sectors.

CEO Risto Murto identified the Iran conflict as the most significant risk factor, warning that a prolonged closure of the Strait of Hormuz would deliver a severe blow to Finland’s economy.