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Impact Investing

IPE special report May 2018

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AP2 re-tenders e759m Swedish equity mandates

SWEDEN – Andra AP-fonden, the second Swedish national pension fund, is re-tendering three Swedish equity mandates totalling up to seven billion Swedish crowns (759 million euros).

AP2 has 12.7 billion euros in assets under management, of which 2.5 billion euros is invested in Swedish securities and derivatives. Half of AP2’s investments in Swedish equities are managed by external managers. The three Swedish equity mandates being re-tendered for one or more manager/s each are:

A 500 million to three billion Swedish crown index-enhanced mandate with a tracking error of between 0.5% and 2%.

A 250 million to three billion Swedish crown actively managed mandate with a tracking error of between 2% and 5%.

A 150 million to one billion Swedish crown actively managed mandate in accordance to the Unweighted Sweden Index with a 5% to 15% tracking error range.

Applicants must have a track record of managing Swedish equities on a discretionary and country mandate basis for the past two years, and Swedish assets under management exceeding five billion Swedish crown.

Presently the assets are managed by SEB, Den norske Bank, and Carnegie, which are all expected to reapply.

The deadline for receiving tenders is May 15 2003.

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