SWEDEN – AMF Pension has rejigged its fixed income management, with Bengt Björkén become acting head of fixed income and Lars Aberg taking an ALM role.

AMF said former fixed income head Arberg has taken the new role of asset liability manager at the SEK220bn (€24.08bn) pension provider. The move follows Sweden’s decision to implement a “traffic light” solvency system at the start of 2006.

This position was established in the wake of Swedish financial regulator Finaninspektionen’s decision to establish a scheme managing risk investment in the life insurance sector.

This is very similar to the “traffic light system” introduced in Denmark in 2001. Red, yellow and green signals will be used to measure funds’ risk exposure.

Aberg, who has been head of fixed income since 1997, will still be part of the asset management part of the company.

For the first six months he will fulfil a broader role at AMF, and will deal with “more pure orthodox asset liability matters but this will also have to adapt according to the new rules,” he told IPE.

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