AP2 sticks with strategy despite diving returns

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SWEDEN - AP2, the second Swedish national pension fund, is standing by its equity-bias despite a sharp -15% plunge in asset values last year.

Capital values totalled SEK117.1bn (E12.8bn) at December 31st 2002 compared with SEK133.5bn at the start of the year. Net inflows were SEK5bn. The fund marginally outperformed its benchmark by 0.4%...

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