Ålandsbanken key holding for Ikea founder’s foundation
Details of a near SEK2bn (€235m) foundation announced by Ikea founder Ingvar Kamprad in December last year have been published, suggesting that Finnish bank Ålandsbanken is a key equity holding.
The details, published by Swedish newspaper Dagens Industri, also point to Nordic construction company Peab and brewer Olvi, based in eastern Finland.
Ålandsbanken accounts for about 5.5% of the foundation’s portfolio.
The foundation’s articles mean it holds 60% of assets in equity, and 40% in fixed interest products. It has already amassed SEK1.85bn of assets, and with an additional SEK30m being added annually is set to bypass the century old Nobel foundation in size within a couple of years, the newspaper said.
Investments are being made in a mix of Swedish, Norwegian and Finnish equities. The fixed interest part of the portfolio is focused on Swedish and Norwegian assets.
The foundation’s objectives are to improve the quality of life for the elderly, to foster entrepreneurship, the environment, and research and development in the area of architecture, interiors and design.