Uppvidinge Kommun in Sweden has appointed domestic investment manager Folksam to manage Skr50m (e 5.6m) in assets for its pension fund, following the sale of the kommun’s energy business.
The money has been split into mixed Swedish and overseas equity and bond briefs of Skr25m each, with the equity portfolio concentrating on the US, European and domestic markets.
Rune Olsson, controller of pensions and finance at Uppvidinge, says: “We selected Folksam because they came in with the cheapest offer for the fund management, which is what we were looking for essentially.” Folksam were selected from a longlist of 12 managers with William M Mercer advising on the tender.