Sweden’s $34 Billion Pension Fund Can’t Be Happier Out of Bonds
- AP7 fund moving more into emerging markets, small cap stocks
- Says hard to escape rising rates in long duration bonds
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Unlike many pension investors, Sweden’s 300 billion-krona ($34 billion) AP7 fund, can to a large extent stay away from the bond markets.
It’s manager, Richard Grottheim, is remarkably positive. As political risk mounts in Europe and the U.S., and as central banks are greasing financial markets with ever more free cash, Grottheim says it will likely all work out fine. At least if you’re looking 40 years ahead.