AP Fund 1 turns to alternative assets

The First Swedish National Pension Fund (AP Fund 1) has announced its intention to invest 3% of its (14bn in alternative investments including hedge funds, property and private equity. The decision follows an internal Asset Liability Modelling (ALM) study that recommended diversification into more asset classes in order to secure better returns. The pension fund, which recorded returns of -18.8% (0.4 below its benchmark), will continue to invest the majority of its assets in equities. For the current year AP Fund 1 will invest 57% of its managed assets in equities, 3% in alternatives and the remainder in fixed income.

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