Millennial Swede Cuts Active Management at $36 Billion Fund
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The woman running the AP1 fund -- a $36 billion investor that forms a key pillar within Sweden’s pension system -- is adopting a new strategy to gird for what she says will probably be a decade of meager returns.
Teresa Isele, who’s been in charge of AP1 since late last year, says the ultra-low rate environment has forced the fund to cut its mid-term return target to 3% from 4%.