Strong equity performance sees Elo return 7% in first nine months of 2024

Written by Natalie Tuck

25/10/2024

Finnish pension insurer, Elo, made a return of 7%, equivalent to €2.1bn, in the first nine months of 2024, which it attributed to the strong performance of listed equities.

Publishing its interim results, Elo said the market value of investments was €32bn (€30bn at the end of 2023). The average return on investments over 10 years was 5.7%, corresponding to a real return of 3.6%.

“Our investments generated good returns and our management fee was competitive thanks to our cost-effectiveness,” Elo CEO, Carl Pettersson, said.

The return on Elo's equity investments was 10.1% with the best return for listed equity investments at 14.1%. Fixed-income investments returned 4% while the return on real estate investments was 1.9%.

The return on other investments was 6.3%. These consisted mainly of investments in hedge funds, on which the return trend levelled out at 6.4%.

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