Swedish funds' poor performance

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SWEDEN - The government reported a higher than expected deficit of SEK85bn (US$13.2bn) in the central government budget in December while the Premium Pension Authority (PPM) posted disappointing returns.

The government deficit was "partly due to the PPM's annual payment of pension rights" and other transaction costs, tax rebates and repayments of central government debt. This deficit was SEK12bn ...

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