Hedge funds and listed equities were the main drivers behind a 3.3% return in the first three months of the year at Elo, one of Finland’s main occupational pension funds, according to a report by IPE citing the scheme’s Q1 results.
Hedge funds provided a 6.5% gain for the Espoo-headquartered pension fund between January and March, while listed equities weighed in with a slightly better 7% return over the same period.
Hedge funds accounted for 9.5% of Elo’s overall investment portfolio at the end of March, up from 8.7% at the end of last year.
With €30.9bn in assets, Elo is the third largest of four private sector pension insurance companies operating in Finland’s earnings-related pension system.
