SWEDEN - The SEK17.2bn (€1.9bn) Sixth buffer fund AP6 is the first investor in the newly-created Investable Nordic Hedge Fund Index by Swedish bank SEB.
"It gives us good exposure versus the Swedish and Nordic hedge fund market, as well as good hedge fund strategy diversification," said Fabian Dahl, portfolio manager at AP6.
"It is also a good benchmark for our other single strategy, single manager hedge fund investments." He did not want to disclose how much exactly the fund had already invested in hedge funds but told IPE is was "under 5%" of the total portfolio.
This index includes around 25 names of Nordic-based hedge funds but is rule-based which means the exact number of titles can change.
AP6 is the government buffer fund which focuses on private equity investment in Sweden, but the government recently announced a change in regulations which will allow the fund to invest abroad too.
Just a few weeks ago, the Swedish government also named a new chairman for AP6 replacing Jan Olle Folkesson who retired.
His former deputy Lennart Jeansson has taken over chairmanship of the fund's board. Until 2005, Jeansson was deputy chief executive at car manufacturer Volvo before retiring.