Pensions
Alecta Returns 7.7% in First Half of 2024
The assets of Sweden’s largest pension fund grew to $126 billion.
Tag: Sweden
Corporate Moves
Swedish Pension AP7 Blacklists Oil Giant Aramco
The $115 billion fund also added six other firms to its banned roster for ‘acting against the targets of the Paris agreement.’ Most are in China.
Pensions
Alecta Reports 5.9% Q1 Return After Losing Billions on Regional Banks
The Swedish pension fund saw its assets grow to $118.68 billion.
Alternatives
Canada’s CDPQ Invests C$200M in Swedish EV Battery Developer
The investment will go toward the construction of a lithium-ion gigafactory in Quebec.
Asset Allocation
AP7 Adds 2 Chinese Firms to Blacklist Over Large-Scale Coal Production
Three companies were removed from the list, which now totals 106 excluded companies.
Manager Selection
AP3 Announces New CIO as Talent Scramble Heats Up
Swedish pension funds Alecta and AP3 have made several strategic hires following Alecta’s losses in the spring’s U.S. regional bank failures.
Newsmakers
Alecta Fires CEO as Fallout Continues From $2 Billion Banking Losses
Magnus Billing lost the confidence of the pension fund’s board, and Katarina Thorslund has been named acting CEO.
Market Moves
Alecta Replaces Equities Head in Wake of US Banking Losses
Liselott Ledin was placed on leave after Sweden’s largest pension fund lost almost $2 billion during recent U.S. banking failures.
Newsmakers
Sweden’s Largest Pension Loses More Than $1 Billion to U.S. Banking Crisis
Alecta says it held talks with Silicon Valley Bank in 2022 about liquidity concerns.
Pensions
Swedish Pension AP1 Loses 8.6% in 2022
Despite alts gains, fixed income and equities weigh down portfolio, contributing to investment losses of nearly $4 billion for the year.
Newsmakers
Swedish Pension Fund AP7 Sues Microsoft, Activision Over Takeover Deal
Lawsuit alleges shareholders were hurt because $68.7 billion acquisition process was “done incorrectly.”
Asset Allocation
Sweden’s New Fund Selection Agency Opens for Business
The agency aims to ensure that funds available for pension savers provide high quality at a low cost.
Newsmakers
Swedish Pension Fund AP3 Names Staffan Hansén CEO
Hansén will take over the $49.5 billion fund for retiring CEO Kerstin Hessius by no later than December 1.
The Role of Life Expectancy in Retirement Age Around the World
An increasing number of governments are pegging retirement age to life expectancy, but it comes with consequences.
Newsmakers
Swedish Pension Responds to Accusation of Taking Blacklist Too Far
AP7 was accused of committing a ‘security scandal’ by linking Wärtsilä to nuclear weapons production.