- Advertisement -
- Advertisement -

Elo’s Hedge Fund-Focused PM Joined Keva

- Advertisement -

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

CABA Launches ‘Flex2’ for Another Ride on the Spread Curve

Stockholm (HedgeNordic) – In December 2022, Danish boutique CABA Capital launched a closed-end fund with a three-year lifespan to capture risk premiums in Scandinavian...

Truepenny One Step Closer to Launch

Stockholm (HedgeNordic) – Truepenny Capital Management has received authorization as an investment firm and obtained license as a portfolio manager from the Swedish financial...

Rhenman Embracing Change Amid an Ever-Changing Healthcare Sector

Stockholm (HedgeNordic) – The largest equity hedge fund in the Nordics with assets under management just shy of $1 billion, the Rhenman healthcare fund,...

Inside Ilmarinen’s Approach to Hedge Fund Allocation

Stockholm (HedgeNordic) – Ilmarinen, in a tight race with Varma as Finland’s largest earnings-related pension insurance company, has emerged as a noteworthy investor in...

Nordic Hedge Fund Industry Report 2024

Stockholm (HedgeNordic) – HedgeNordic’s Nordic Hedge Fund Industry Report kicks off with an analysis of the industry’s performance across different asset size ranges. This...

BlueOrchard’s Climate Insurance PE Fund Edges Toward $100M

Stockholm (HedgeNordic) – BlueOrchard’s private equity fund dedicated to climate insurance has secured commitments of close to $30 million from two new investors, British...

Allocator Interviews

Latest Articles

In-Depth: Emerging Markets

Voices

Request for Proposal

- Advertisement -