People moves

AP7 makes two hires for alpha portfolios

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AP7, the Seventh National Pension Fund in Sweden, which has assets of around $12.2 billion, has made two hires in the high alpha field, and will use Amundi Alternative Investment and Axa Investment Managers to run two of its alpha portfolios. It is believed that the new mandates will total around $271 million. Axa will run a European mandate; while Amundi will handle Japanese equity investments.

The move comes as part of a revamp of the structure of AP7's portfolios, begun in May, which has seen it attempting to separate alpha and beta providers in its portfolio. It is