SWEDEN - The Second Swedish Pension Fund has lost its second chief investment officer in less than two years.

Poul Winslow will leave his role at Andra AP-fonden by April 2008, and the fund has confirmed the search process for his replacement is already underway.

Winslow is leaving the second Swedish buffer fund to join the financial services group Nordea where he will be responsible for building a fund of hedge funds business.

Eva Halvarsson, chief executive at AP2, said: "We are sorry that Poul leaves AP2 and wish him the best of luck."

Winslow was formally appointed CIO of the fund in June last year, after two months as acting CIO for day-to-day operations, and following the resignation of Petter Odhnoff.

Odhnoff resigned in March 2006 after an audit of AP2, by the Swedish Tax Authorities, revealed he had been engaged in a number of transactions that had not been declared for tax purposes and were not reported in compliance with the fund's guidelines on share transactions. (See earlier IPE story: AP2 investment chief resigns in tax probe)