SWEDEN - AP7, the seventh national buffer pension scheme, has revealed it will switch up to 40 % into pure alpha strategies in the next three to five years, according to reports.
Having recently appointed Danske Bank to manage a SEK2bn (US$294.5m) alpha creation mandate, AP7 is now in the process of selecting another pure alpha Swedish fund and two European managers, according to executive vice president Richard Grottheim.
The appointments are expected to be made by the end of June.
Global Pensions previously reported how AP7 was awarded a SEK6bn (around €640m) currency overlay mandate to Lee Overlay Partners.
Intervalor, a firm which represents a number of asset managers in the Nordic region, won the mandate on behalf of Lee Overlay Partners, an investment management firm dedicated to external currency overlay management. The "conservative" mandate aims to generate alpha of 1% a year.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.