$138 Billion Swedish Fund Slashes Equities to Escape ‘Herd’
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Swedbank Robur, which oversees $138 billion in assets, has more than halved its equity exposure at some funds to avoid being caught on the wrong side of markets once the “herd” realizes stocks are over-valued.
In the multi-asset funds with the broadest equity mandates, Sweden’s biggest fund manager reduced its equity exposure to about 30 percent in April from 80 to 85 percent in the second half of last year, Head of Multi Asset Per Storfaelt said in a June 11 interview in Stockholm. The division manages about 140 billion kronor ($17.3 billion) in assets.