Magnus Eriksson, AP4 (Art by Tim Bower)The CIO of Swedish government pension fund AP4 is to leave the
organization in June, the fund has announced.
Magnus Eriksson has worked at the SEK310 billion ($36.7 billion) for eight years, and has been deputy CEO since 2013, reporting to CEO Mats Andersson.
“Despite the financial and debt crisis, AP4 succeeded in advancing its position in a number of areas,” Eriksson said in a statement regarding his departure. “Our strategic mandate… has opened up completely new opportunities to generate returns. AP4’s highly successful strategic investments in real estate, sustainability, and equity would not have been possible without this mandate and my many dedicated employees.”
Andersson also praised the CIO’s work on the fund: The portfolio’s active management holdings generated SEK7.3 billion between the start of 2009 and the end of June 2015, according to AP4’s latest report.
Eriksson was named in CIO’s Power 100 list of influential asset owners in 2013. He previously worked for Swedish fund manager Catella and fellow public pension AP3.
The news follows the departure of Björn Kvarnskog from AP4, announced in October last year. Kvarnskog moved to Australia at the start of this year to run the Future Fund’s equity portfolio.
Related: Future Fund Poaches AP4 Equity Chief & Sweden Abandons Controversial Pension Reform Plans