|
|
Article: Swedish fund to outsource bonds.
- Article from:
- Financial News
- Article date:
- January 19, 2003
CopyrightCOPYRIGHT 2003 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Pirkko Juntunen
A-P Fonden 2, one of Sweden's four national pension funds, is seeking new bond managers as part of the next step in its outsourcing programme. For the first time the fund will invest in high-yield bonds.When the Skr124bn ([euro]13.5bn) fund was set up in the reorganisation of the pension system in 2001, Barclays Global Investors was temporarily hired to manage the bond portfolio on a passive basis.
Lennart Jonsson, head of communications at A-P Fonden 2, says: "Since then we have built up our internal expertise and managed all the fixed-income assets in-house, which now has 10 investment professionals. "The team only managed ...