SWEDEN - AXA Rosenberg says it has been awarded a €320m pan-European equities mandate by SEK68bn Swedish buffer fund Sjunde AP-fonden.

“We have chosen AXA Rosenberg as one of the managers following an extensive tender process,” AP7’s executive vice president Richard Gröttheim was quoted as saying in an AXA release.

“They have a solid investment philosophy and process with an excellent track record.”

AXA takes over from the former CDC Ixis Asset Management – now Ixis Asset Management - whose dismissal by AP7 was reported by IPE in 2004.

“We are clearly delighted to have been appointed by AP7,” said AXA Rosenberg’s Europe chief executive Simon Vanstone.

“AXA Rosenberg has a strong commitment to the European market, especially Sweden, and this endorsement shows the progress we have been making.

“We are dedicated to keeping the momentum going and we are fortunate to have a strong, committed team to help achieve this.”

AP7 president Peter Norman told IPE in November 2004 that CDC Ixis had lost its mandate due to poor performance.

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