Shift to passive management makes AP1 lose four equity managers

Swedish state pension buffer fund AP1 is switching to more passive equity investment management as a result of missing return targets . Four out of six equity managers are leaving the fund.

Photo: AP1/PR

Four out of six equity managers are leaving AP1. The Swedish state pension buffer fund has decided to shift some of its externally managed investments to passive or systematic management set to be managed inhouse, according to investors' news site

"We are doing some restructuring in the equity portfolio that affects our organizational structure," Mikael Angberg, head of asset management at the EUR 33.5 billion pension fund, said in a statement.

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