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.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.