- Advertisement -
- Advertisement -

Related

Elo’s Hedge Fund-Focused PM Joined Keva

Latest Report

This year’s Alternative Fixed Income report from HedgeNordic explores how institutional investors and asset managers are navigating this new reality, balancing yield and resilience amid shifting credit cycles, structural change, and evolving sources of return.

Stockholm (HedgeNordic) – Annika Luoto, a hedge fund-focused portfolio manager at Finnish pension insurance company Elo, has joined Finland’s largest pension fund – Keva – as portfolio manager in alternative investments. Luoto has been co-managing Elo’s hedge fund portfolio for the past seven years.

“I’m happy to share that I’m starting a new position as Portfolio Manager, Alternative Investments at Keva,” Annika Luoto announced on LinkedIn. She will focus on hedge funds and other alternatives alongside senior portfolio manager Markus Frosterus. Luoto joined Elo, the third-largest of the four pension insurance companies in Finland’s private sector earnings-related pension system, in January 2014 as portfolio manager focusing on FX and money markets. After two years in this role, she went on to co-manage Elo’s hedge fund portfolio for a little more than seven years.

“I’m happy to share that I’m starting a new position as Portfolio Manager, Alternative Investments at Keva.”

Both Keva and Elo maintain sizeable allocations to hedge funds, and have increased their exposure to hedge funds in recent years. Keva had 7.2 percent of its €62 billion investment portfolio, or €4.5 billion, invested in hedge funds at the end of 2022. The Finnish pension agency responsible for pensions of public sector workers in state, municipal, and state church positions increased its allocation to hedge funds from under four percent in 2013 to over seven percent in 2022. Keva’s hedge fund investments generated a return of 6.1 percent last year after delivering a return of 17.3 percent in 2021.

Elo’s hedge fund investments accounted for 9.3 percent, or €2.6 billion, of its overall portfolio at the end of 2022. Elo increased its allocation to hedge funds from under four percent in 2011 to over ten percent in 2014 and over 13 percent in 2015. Elo’s exposure to hedge funds decreased in the following years and remained between seven and eight percent during the three years through the end of 2021. The hedge fund portfolio maintained by Elo returned 2.3 percent in 2022.

Photo by Tom Brunberg on Unsplash

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest Articles

Confluence Marks Next Step in Tidan Capital’s Evolution

Stockholm-based fund boutique Tidan Capital has officially launched its multi-strategy fund vehicle, Confluence, with the strategy now overseeing $265 million across fund and separately...

Trend-Followers Stay the Course in October

The CTA sub-index of the Nordic Hedge Index advanced for a second consecutive month in October, supported by continued trends in precious metals and...

From Exclusive to Accessible: Coeli Listed Real Estate

In the summer of 2024, Swedish asset manager Coeli partnered with real estate specialist Peter Norhammar and NRP Anaxo Management to launch a concentrated...

Strong Earnings Drive Norron Select Higher in October

Mid-to-late October is always a busy earnings season for public companies and, by extension, for stock-picking managers. For long/short equity fund Norron Select, a...

Report: Alternative Fixed Income 2025

As 2025 is deep in its final quarter, investors find themselves navigating a world of contradictions. Equity markets, flush with liquidity and investor optimism,...

Beyond Plain-Vanilla: Ridge Capital Navigates Three Distinct Market Years

In a traditional high-yield bond fund, the yield-to-maturity often serves as a rough indicator of expected returns. Ridge Capital, however, operates with a more...

Allocator Interviews

In-Depth: High Yield

- Advertisement -

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.