SWEDEN - The SEK221bn (€24bn) buffer fund AP1 is tendering a $680m (€478m) Pacific ex Japan equities mandate.

Capital International and Lloyd George have managed the active brief over the last four years.

In the course of this review, AP1 will be considering active as well as passive and enhanced managers.

Furthermore, the fund said it will consider moving into 130/30 or similar shorting strategies despite tendering for a long-only mandate.

"We want to see the full range of different managers," a spokeswoman for AP1 told IPE.

The fund expressed a preference for separate accounts "but commingled vehicles may also be considered on this occasion".

Deadline for participation in the tender is December 5.

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