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Head of equities forced to quit AP1 for rule violations

Another senior manager at Swedish pension buffer fund AP1 has been forced to leave due to alleged rule violations when investing his own money. In September the CEO of AP1 was fired. Now, head of equities Olof Jonasson has left under similar circumstances, according to Dagens Industri.

Photo: AP1/PR

Just a few months ago, in September, CEO Johan Magnusson was fired after he allegedly violated pension fund AP1's internal regulations on holding and trading financial instruments. Now, Swedish business daily Dagens Industri reveals that another senior manager at AP1, one of the buffer funds in the state pension system, has been forced out due to alleged rule violations.

Private investments are also at the heart of this case. According to AP1, head of equities Olof Jonasson's investments are in conflict with internal regulations.

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