The SEK100m Swedish kommun of Partille has selected Carlson Investment Management and Länsförsäkringar Wasa to Swedish balanced mandates of SEK40m each and pulled in overseas managers Fidelity and Indocam to manage SEK10m apiece in global equity funds.
The assets result from the sale of various local authority building sales and the privatisation of the kommun’s electricity company.
Josta Isaksson, financial manager at the kommun, comments on the selections: “ Carlson has a strong owner in Skandia, good organisation, high credibility and good results in both shares and bonds.
“ Länsförsäkringar has good results for bonds and impressed us with their presentation, particularly in their thinking about risk.”
Fidelity and Indocam were selected for what Isaksson dubs a “good rate” for their funds in comparison to other foreign managers.
The fund sent out RFP’s to fifteen managers and received replies from nine.
Stockholm based consultant Wassum advised on the manager search.

In a separate move the Swedish kommun for Järfälla has reappointed Carlson and Merita Nordbanken to separate global balanced mandates of roughly SEK150m each.
Joran Persson, chief economist at Järfälla, comments: “We are very happy with the performance of both of the managers.”
The review was carried out in-house.


Topics