SWEDEN - Andra AP-fonden (AP2), the second Swedish national pension fund, has appointed Hans Fahlin as its chief investment officer (CIO) replacing Johan Held who announced his resignation last year.

He will take up his new role at AP2 in mid-April following the decision by Held in October to leave the pension fund after just 18 months, to join AFA Försäkring as CIO. (See earlier IPE article: AP2 investment chief quits after 18 months)

Fahlin has spent 25 years in the financial industry including the last 17 years in asset management. He has held senior positions at Alfred Berg and ABN AMRO including chief executive of Alfred Berg Kapitalförvaltning. He is also a member of the Scientific Advisory Committee at the Institute for Financial Research (SIFR), as well as Chairman of Inquire Europe. These organisations are involved in "building bridges between financial research and business practice within the financial industry".

Latest figures from AP2, the second-largest of the four AP-funds behind AP3, showed the pension fund produced a more positive performance in 2009 with a return of 20.3% after expenses, equivalent to a profit of SEK 34.9bn.

The total value of its assets increased to SEK 204.3bn, as the active management of the investments produced a return of 1.2%, although the reallocation from global government bonds and global equities to credits and convertibles also helped investment performance. (See earlier IPE article: AP3 alters strategy after improved returns)

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