SWEDEN - The Third Swedish National Pension Fund, AP3, has announced an end of year loss of SEK44.8bn (US$5bn), equivalent to a 19.8% decline in assets, blaming too high an exposure to equity risk.
The fund attributed the sharp fall to declines on global equity markets. It said its equity portfolio fell by 38.8%, broadly in line with the 40% decline in global equity prices, although some of t...
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