AP1 announces redundancies in business shake-up

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SWEDEN - AP1 will make 20 employees redundant and change its management model in an attempt to increase the focus on strategic asset allocation, which the fund considers its core activity.

The fund expected these measures to reduce operating expenses by around 25% annually when fully implemented. This follows a 21.9% decline in its assets during 2008. AP1 managing director Joh...

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