“The leadership of pension funds is and has been open to participating in the infrastructure of the community. In this way, it would be possible to simultaneously accelerate necessary, societal projects and at the same time invest the assets of fund members. It is appropriate to point out construction projects in the transport system, as is already the case. Projects of this kind would also be easy to find elsewhere. “
This was stated in a report by the board of the National Association of Pension Funds, which was presented by Hilmar Harðarson, chairman of the board, at the association’s general meeting held yesterday, 24 May. Infrastructure investments were the main topic of discussion at the lunch meeting after the Annual General Meeting. Ólafur Sigurðsson, Managing Director of Birta Pension Fund and Chairman of the Committee of the National Association of Pension Funds on the Investment Environment of Pension Funds, gave a comprehensive presentation and said in detail:
Still about 1%
“It is a sad fact that for the past seven years, pension funds have maintained a strong fund for infrastructure investments and expressed interest in participating in such projects. Little to nothing happens. I was reminded that Hrafn Magnússon, the then managing director of LL, got me to discuss this same agenda item at a meeting of the association in 2003. I then calculated that the share of pension funds in Icelanders’ infrastructure was less than 1% and now, almost two decades later, he is still about 1%! “
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