AP7, the Seventh National Pension Fund in
Sweden, is revamping its structure in May 2010 - and hedge
funds may or may not fit in. Last year, AP7 appointed Goldman
Sachs as its replication provider and was using an absolute
return tracker for its investments. One of the reasons for the
move was cost and the disappointing performance of the fund of
hedge funds portfolio.
Following a recent government directive, AP7, which
currently manages the premium choice and...