AP7's and Pimco's funds swap places again as Europe's largest open-end fund

AP7 Aktiefond lost EUR 830m in asset values during September due to market depreciation effects, and Pimco's GIS income fund is once again Europe's largest open-end fund, according to Morningstar. The Stockholm-based equity fund is part of the default product in the Swedish premium pension system, AP7 Såfa.

The Swedish pension fund AP7 Aktiefond has become Europe’s largest open-end fund, according to a new report by Morningstar. Photo: AP7/PR

US asset manager Pimco's GIS Income fund has again become the first in the ranking of Europe's largest open-end funds after losing its status to AP7's Aktiefond in August, reports Morningstar.

In August, AP7's equity fund replaced Pimco's GIS Income as the first in the ranking of Europe's largest open-end funds, but in September, Pimco's fund became again Europe's largest open-end fund as AP7's Aktiefond suffered losses because of market depreciation effects

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