SWEDEN - AP2, the EUR14.7bn second Swedish national pension fund, has appointed Towers Perrin and its Swedish associate HRS to provide asset liability modelling (ALM) services.
Tomas Franzén, head of asset allocation, said: Within the ALM framework, this year’s study will emphasise the asset side and provide us with a more detailed long-term benchmark. Not least the focus on the asset side has led us to conclude that Towers Perrin's approach will suit AP2. The objective with this study is to find an appropriate benchmark where the asset structure is concerned. The study does not, whatsoever, cover issues related to the selection of investment managers.”
The study will begin in May and is set to finish during the third quarter.
Presently, the fund employs nine external managers. The AP2 roster consists of Swedish firms Alfred Berg, Carlson Investment Management, Carnegie Asset Management and SEB. The other managers are State Street Global Advisors, Merrill Lynch, Barclays Global Investors, Pictet and MFS.
In February, the fund began a search for a global custody and cash management services provider, a brief currently held by Svenska Handelsbanken.
By Luke Clancy
The directors of collapsed construction giant Carillion were "contemptuous" of funding their defined benefit (DB) pension schemes, and "refused to give an inch", Frank Field has alleged.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).