The AP4 fund, Stockholm, is searching for two active Asian equity managers to run up to 7 billion kroner total, according to Björn Linder, chief investment officer of the 134 billion kroner ($12.9 billion) fund.
One portfolio will cover Japanese equities, and the other, Asian equities excluding Japan. Mandates may be split among several managers, but no further details were available.
Proposals are due May 11, and a decision is expected in October, he said.
The fund has decided for the first time to outsource the active management of Asian equities to enhance investment returns. Also, later this year it will consider outsourcing active management of its sector-oriented equity portfolios, Mr. Linder said.
The fund has 5% of total assets invested in Asian equities, most of which is actively managed in-house; a small proportion is managed by external passive managers State Street Global Advisors and Merrill Lynch Investment Management.
William M. Mercer is advising.
