AP3 , Stockholm, hired Capital International, Nomura and J.P. Morgan...

AP3, Stockholm, hired Capital International, Nomura and J.P. Morgan Fleming to run Japanese equity portfolios, according to a news release from the 130 billion kroner ($18.1 billion) system. Capital International will run 1.9 billion kroner, while Nomura and J.P. Morgan Fleming will each run 950 million kroner, AP3 said. The system's Japanese equity allocation, totaling 3.8 billion kroner, had been divided between Capital International and Schroders. System officials decided to move to three managers in the asset class because of "a weak relative performance of the overall Japanese equity portfolio during 2003," the news release said. Further details were not available by press time.