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AP3 equities chief Eriksson leaves

SWEDEN – The 16.6 billion-euro Third Swedish National Pension Fund, Tredje AP-fonden or AP3, says Magnus Eriksson - head of equities management - is leaving the fund.

“Magnus Eriksson will be leaving AP3 for a position as Investment Manager at MGA Holdings AB,” the fund said in a statement. He has been with AP3 since 1999.

“We have started the recruitment process, but it will take some time before we have hired a new head,” said spokeswoman Pernilla Klein.

AP3 has also hired media and telecoms specialist Nalini Bonnier from SEB Asset Management.

Earlier this month the scheme awarded three European mid-cap mandates totalling more than four billion crowns – to BNP Paribas Asset Management, AXA Rosenberg Investment Management and Kempen Capital Management.

AP3 made a return on its investments of 5.7% in the first half of 2004.

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