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Award of tender for externally managed Enhanced Indexing Mandates

The Third Swedish National Pension Fund (AP3) has after extensive evaluation approved and signed Framework Agreements with 13 new external managers within the area of Enhanced Indexing, global and/or regional mandates.

Note that this decision only states that the manager has been approved for management of Enhanced Indexing mandates. Activation of potential mandates is a separate decision, at the discretion of AP3 which will be taken at a later stage.

Approved managers (in alphabetic order)

  • Barclays Global Investors Limited
  • Credit Suisse
  • Deutsche Asset Management International GmbH
  • DLIBJ Asset Management International Ltd.
  • Enhanced Investment Technologies LLC
  • Goldman Sachs Asset Management International
  • Henderson Global Investors Limited
  • Invesco Asset Management Deutschland GmbH
  • PanAgora Asset Management Inc.
  • Quantitative Management Associates LLC
  • Société Générale Asset Management S.A.
  • State Street Global Investors Limited
  • Union PanAgora Asset Management GmbH

The decision is based on the total assessment of the managers ability to deliver sustainable positive risk adjusted excess return in the long term. The basis for the assessment is an evaluation of the investment philosophy, investment process, evidence that the process has generated positive risk adjusted excess return, experience and stability of the investment team and the organisation and the level of investment management costs. Diversification between investment processes has also been taken into account.

The duration of the Framework Agreement is 8 years.