The wave of outsourcing by Sweden’s local boroughs (Kommuner) has continued during the summer with no fewer than eight dishing out assets to investment managers.
The Swedish Kommun of Trelleborgs has handed a mandate for pension investment of SEK30m (e4m) to Stockholm based Carlson Investment Management.
“ Carlson was chosen because for a reasonable price they will give good profit with a low risk, and the latter is very important,” says Raymond Larsen, in charge of the kommun’s budget.
The Kommun of Oskarshamns has also invested the money gained from selling its shares in energy company Sydkraft with three external managers in a performance play-off.
“ We asked three different companies to invest SEK100m in Swedish shares to see what the best investment performance would be,” comments KG Johansson, responsible for finance and investment at Oskarshamns.
The summer purple patch enjoyed by Carlson, one of the managers to pick up a SEK100m brief from Oskarshamns, means the Skandia owned group now manages the investments of 39 Swedish boroughs worth almost SEK5bn and is the current market leader.