Hedge funds continue to play a meaningful role in the portfolios of Finland’s largest pension investors. Combined hedge fund allocations across six major institutional investors surpassed €25 billion for the first time in 2024 and stood at €26.5 billion at the end of 2025, representing roughly 9.6 percent of total assets. However, differing approaches to building and positioning hedge fund portfolios led to significant performance dispersion in 2025, with returns ranging from -0.1 percent to 11....
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