SWEDEN – The first Swedish buffer fund the 127 billion-crown (13.7 billion-euro) AP1 has tapped Mercer and ORTEC/Towers Perrin as strategic advisors.

Första AP-fonden said in a statement that it has decided to sign a general agreement with Mercer Investment Consulting and ORTEC/Towers Perrin. Financial terms of the arrangements were not disclosed.

“The two firms complement each other well, with a wide competency base and cutting edge expertise in the required areas. The intention is for both firms to function as strategic advisors.”

Mercer has been appointed earlier this year to help AP1 with the selection of active equity mandates in the Pacific region, said Nadine Viel Lamare, director of public relations at the fund. In September AP1 appointed seven managers for its actively managed Asia-Pacific equity portfolio.

“These new appointments however are more on a long-term basis, and the companies do not replace other consultant firms,” said Viel Lamare.