Allocator CareersUpdated Jul 21, 2026
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Pension

Varma

multi-employer national earnings-related pension insurer (statutory, mutual)1 — Helsinki.

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Overview

Varma.fi - Varma A partner that's sure to be by your side Varma provides pension insurance for Finnish work and is a pioneer in work ability management.1

Varma's pension assets support retirement benefit obligations for plan participants.1

Investment program

Estimated AUM
$73.7B as of Dec 31, 20252
Capital pool
multi-employer national earnings-related pension insurer (statutory, mutual)1
Investment model
Varma states that investments may be made directly or indirectly. For emerging-market investments, it specifically describes both direct investments and investments through funds, including a fund launched by HSBC Asset Management.3
Investment approach
Varma is the most solvent earnings-related pension company, which enables long-term investment activities even when the markets fluctuate.2
Spending support
Not listed yet
Spending policy
Not listed yet
Asset allocation
Public evidence references these asset classes or allocation areas: private equity, venture capital, hedge funds, real estate, public markets, fixed income.2
Performance
Not listed yet
Governance
Varma’s Investment Committee handles major investment matters, prepares proposals for the Board, decides matters authorized under the annual Board-approved investment plan, and monitors investment risks.4
Investment team
Markus Aho is Varma’s Deputy CEO and Chief Investment Officer. Published investment contacts also identify heads for listed securities, strategy and allocation, fixed income, private equity and debt, and real estate investments.5
Unfunded commitments
Not listed yet
Source freshness
Last verified Jul 21, 2026 · Needs review

Sources

Last verified Jul 21, 2026 from public career and organization materials.

Fact notes

  1. Website (varma.fi)Parent organization overview, Pool purpose, Capital pool · checked Jul 25, 2026
  2. Website (varma.fi)Estimated AUM, Investment approach, Asset allocation · checked Jul 25, 2026
  3. Website (varma.fi)Investment model, Investment office page · checked Aug 6, 2026
  4. Other source (varma.fi)Governance · checked Aug 6, 2026
  5. Website (varma.fi)Investment team · checked Aug 6, 2026

Profile and job sources