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AP1 lists 14 finalists for emerging markets equity

AP1, Stockholm, named 14 managers as finalists for its $4 billion global emerging markets equity allocation, the 333 billion Swedish kronor ($36 billion) pension fund said on its website.

The finalists are Aberdeen Standard Investments, BlackRock (BLK), First State Investments International, Fisher Asset Management, Grantham, Mayo, Van Otterloo, GQG Partners, J.P. Morgan Asset Management, KBI Global Investors, Legal & General Investment Management, RBC Global Asset Management, Robeco, TOBAM, UBS Asset Management and Wellington Management International.

The firms hired and allocations to each have not yet been determined, Tina Ronnholm, portfolio manager-external management, said in an email. There is no timetable for the decision.

"The selected managers will give the fund good flexibility and portfolio diversification together with a high expected risk-adjusted return net of costs," Majdi Chammas, head of external asset management, said in a news release. "The managers complement each other well in terms of investment styles and risk profiles and will thereby contribute to the diversification of the portfolio."

AP1 issued the RFP in May 2018.