AP1, Stockholm, is searching for an investment consultant to review its external equities and fixed-income managers, said a spokesman for the pension fund.
The 297 billion Swedish kronor ($35.5 billion) buffer fund is looking to improve implementation, data, operational risk management, costs and transparency. The spokesman said Mercer, the current consultant, provides manager research through its research database, and can bid for the new contract.“The reason for doing this is that we needed to expand the capabilities of our manager research and focus the internal resources on the investment decisions rather than operational and administrative sources,” he said in an e-mail. “This solution we think will also help us with the reporting and data collection that will be done through one channel.”
The deadline for applications is Nov. 28, and the pension fund expects to make a decision early next year. The spokesman added that there is no time limit on the contract, but that AP1 aims to put contracts out to bid every five years.
Further information is available on AP1’s website.