AP1 splits selection activity
AP1, one of the key so-called buffer funds in Sweden’s pension system, has announced that it is splitting external manager selection into two roles.
Rikard Kjörling will be head of the new unit for External Management.
Martin Källström becomes head of the new unit Alternative Investments.
Meanwhile, the fund has also announced that Olof Jonasson has been appointed new head of Equity, having taken up the role on 2 October.
Per Lundborg is leaving the fund after 12 years as head of Equity.
AP1 has assets of some SEK253bn (€28bn) as of June this year. It is one of five buffer funds that are subject to ongoing Parliamentary scrutiny following a report published in the past year on behalf of the government, calling for a reduction in the number of such funds to increase efficiencies on behalf of investors.