AP3 is increasing the level of active risk management throughout its benchmark reference portfolio. The move covers market risk and active risk (i.e. alpha and beta) and follows the introduction in 2003 and 2004 of a more dynamic reference portfolio allocation strategy. It marks a further step towards achieving an optimal balance between the Fund’s asset management profile and its role within Sweden’s national pension system.
The new strategy involves an increased level of active management in the global fixed income and equity portfolios vis-à-vis regions and segments. A global equity group will assume full responsibility for all equity mandates, including all regions and management styles. AP3’s equity management covers passive, active, external and internal mandates.
The global equity management group will allocate investments more actively between regions, segments and sectors and will also promote increased diversification. The group will also select, assess and monitor external equity managers. The internal active equity mandates (stock picking) will focus on the Swedish equity portfolio and the TMT (telecommunications, media and technology) sectors in Europe.
This strategy reflects a global trend among pension funds towards dynamic portfolio management combined with an increased focus on absolute risks.
For further information, please contact:
Christina Kusoffsky Hillesöy
T: +46 (0)8 555 17 123
Mobile: +46 709 517 223