AP4 to seek info from global equity firms

AP4, Stockholm, wants information from passive global equity managers about running a total of about €3 billion ($4.4 billion). The €22 billion fund is looking to hire up to three managers, according to Tobias Fransson, head of external mandates. Funding will come from several passive equity portfolios both internally and externally managed. “We wanted to make (the passive global strategy) more cost efficient,” Mr. Fransson said. Managers are expected to be chosen at the end of March.