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Article Excerpt
Topping the Swedish industry pensions performance league tables over one, five, 10 and 15 years, AMF feels justified in sticking with its investment policy.
So it was a relaxed CEO and head of asset management that epn met on a crisp Stockholm morning earlier this month. While other pension funds and providers fret over solvency levels, mark-to-market reporting and liability matching, a 215% coverage ratio means that CEO and president Christer Elmehagen, as well as the new head of asset management Sarah McPhee, share few of these preoccupations.
Indeed, one of the investment decisions that AMF is most proud of is its sale of Skr25bn in equity from January to July 2000, when the technology market was at its peak. It also stayed out of Japan in the 1990s.
AMF's investment set-up is unusual for a pension fund in international terms, but is similar to many of its Swedish peers in that it eschews external managers. It also has a strong domestic bias....
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More articles from epn: European Pensions & Investment News
Pensions Snapshot: Switzerland., October 25, 2004
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