PE drives Elo's performance

The market value of Elo's investments has grown to £23.6bn as of September, and the entire portfolio returned 2.2%.

Private equity has been the best performing asset class for the same period, followed by real estate (4.7%).

"Unlisted private equity and real estate investments supported returns in the uncertain investment environment," said chief investment officer Hanna Hiidenpalo in a statement. "Private equity investments generated once again the highest return, in addition to equity investments."

The Finnish occupational pension company has allocated 8.3% of its portfolio to private equity. Some of its latest commitments include Icebreaker Ventures I, Inventure Fund III and Bridgepoint Europe VI.

Elo is interested in responsible investing and in embracing ESG criteria. PRI, an organisation responsible for the UN Principles of Responsible Investment, has found in its 2017 report that Elo has again improved its performance across all asset classes, in strategy and governance.

Elo was founded in 2014, as a result of a merger between LocalTapiola Pension and Pension Fennia.

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