Sweden’s AP3 recruits new selector

AP3, the SEK304bn (€33bn) ‘buffer fund’ that makes up part of Sweden’s pension system, has appointed Veronica Wahlberg as portfolio manager in its external management team, replacing Peter Ragnarsson who is leaving at the end of November.

Wahlberg previously worked at the central bank, Riksbank, in the Monetary Policy Department and the Markets Department, engaged in analysis. Other experience has been at Ålandsbanken and Kaupthing Bank in the area of manager research and selection.

AP3 is one of five buffer funds currently operating in the Swedish pension system. The government has initiated an inquiry into whether these funds should be consolidated, however, the chairs and CEOs of all AP funds affected responded in October this year by noting that the proposed consolidation “increases the risk of short-term politically-motivated micromanagement and puts an end to long-term investment in sectors such as real estate and infrastructure. In all probability, it will result in lower pensions.”

 

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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