SWEDEN - Tredje AP-fonden, Sweden's third national pension fund, is to put out a search for up to two hedge fund of funds managers in September.
Stockholm-based AP3 has been touting a move into hedge funds since last year.
The allocation will form part of an ongoing strategy to increase the fund’s share of active management where it can add value.
Bengt Hellstrom, head of the external management team, said that the mandate was likely to have a global remit. Strategies are being finalised.
He also reckoned that the allocation could be up to 3% of the total Skr120.2bn (e13.2bn) portfolio. This is the legal cap allowed for alternative investments made by the national funds.
At present, the fund is overseeing the advisory process in-house but hinted that that a tender could lead to a further search for a specialised consultant to assist on additional alternatives investments.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
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