SWEDEN - AP3, Sweden's third National pension fund has hired Prudential Investment Management to manage a US$659m (SEK6.4bn) active corporate bond mandate as the fund shifts from indexed to active management. The brief was previously held by State Street Global Advisors (SSgA) on an indexed basis since the fund's inception in January 2001.
Commenting AP3’s chief investment officer Niklas Ekvall said: “AP3’s strategy is to hire external asset managers where these can be expected to succeed better than our own internal managers, which ...
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