Pension funds’ investments in foreign financial instruments
For the period from mid-2015 through end-June 2016, the Central Bank of Iceland granted the pension funds and other custodians of third-pillar pension savings exemptions from the Foreign Exchange Act, no. 87/1992, thereby permitting them to invest in financial instruments issued in foreign currency in the total amount of 40 b.kr. The parties concerned utilised 87% of the authorisation and invested abroad for 34.7 b.kr. during this period. Of the additional 40 b.kr. exemption granted for the period 1 July through 30 September 2016, these parties invested abroad for 30.8 b.kr., or 77% of the total authorisation, during the period.