SWEDEN - As reported exclusively by IPN in November last year, AXA Rosenberg Investment Management has been confirmed to manage a $22.5m portfolio for Sweden's SKr142bn Telia Pensionsstiftelse pension fund.
AXA Rosenberg’s US small cap fund, which seeks to outperform the Russell 2000 index, was chosen by the pension fund. The specialist equity manager utilises an active quantitative process designed to outperform the index while controlling the risk relative to the benchmark.
AXA Rosenberg has managed US equity mandates since 1987 and the annualised outperformance of the benchmark since inception is 4.96%.
Telia, a Stockholm-based telecoms company, represents a breakthrough for AXA Rosenberg, as it is its first institutional investor client in Sweden.
Hamish Gowen, European marketing director, said: “We are delighted to have been chosen by Telia to manage this mandate and hope that it will be the first of many institutional appointments in the Swedish market.”
Telia will also begin searching for a $13m hedge fund-of-funds manager in the second half of this year. Wassum Consulting is assisting.
By Luke Clancy
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