Issue 4, 2013

This issue of the Nordic Fund Selection Journal focuses on insights from industry leaders, updates on the Nordic asset management landscape, and expert discussions on fixed income opportunities and pension systems. Highlights include roundtable discussions with fund selectors and managers emphasizing the shift towards unconstrained fixed income strategies amidst volatile markets, reflections on the Swedish multi-tier pension system, and interviews with prominent fund managers and asset management executives such as Sten Ankarcrona (HSBC Global Asset Management) and Charles Montanaro (Montanaro Asset Management). The Journal also previews upcoming industry networking events and profiles leading Nordic-based fund selectors and international asset managers.

The publication details evolving investment management approaches, highlighting the growing complexity and need for transparency in benchmarks, diversification, and active management. Nordic institutional investors increasingly seek qualitative, business-critical data combined with proprietary research to navigate low-yield environments and regulatory changes. Manager selection specialists advocate for rigorous, disciplined qualitative and quantitative assessment, favoring boutique and specialized managers with a long-term value focus. At the same time, asset managers emphasize client education, adaptability in product offerings, and fostering direct engagement through innovative office environments and corporate culture, as exemplified by Bloomberg’s London headquarters. Overall, the Journal underlines the importance of agility, in-depth research, and collaborative networks to succeed in the dynamic Nordic and global asset management markets.

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Table of content

Introduction to the Issue

This issue features interviews and reports from key Nordic and international fund selectors and managers, including a roundtable on opportunities in fixed income, insights into the Swedish pension system, and profiles on leading asset management firms and fund managers.

Industry Highlights and News – Pages 6-13

Updates include significant appointments in asset management firms, new fund launches, branding and organizational changes across companies like Carnegie Asset Management, Neuberger Berman, Skandia, and AMF Fonder. The Oslo Statement from the International Forum of Sovereign Wealth Funds and growth strategies from firms like Unigestion and Wells Fargo are also covered.

Guest Viewpoint: Benchmarking and Better Beta – Pages 12-13

Hiten Savani from Fidelity Worldwide Investment discusses challenges with traditional market-cap benchmarks and the quest for alternative indices and smart beta strategies, emphasizing transparency and the need for superior risk-adjusted returns to justify moving away from conventional benchmarks.

Roundtable on Fixed Income Opportunities – Pages 14-22

A discussion among leading Nordic fund selectors and managers highlights the evolving fixed income market, emphasizing the move toward more flexible, unconstrained strategies to manage duration risk and benefit from the diverse global monetary policies and credit environments.

Swedish Pension System Overview – Pages 24-25

An extensive review of Sweden’s public, occupational, and private pension systems, focusing on their structure, recent reforms, and challenges such as rising longevity, regulation, and the evolving pension fund landscape.

Swedish Life Insurance Market Analysis – Pages 26-32

A detailed examination of Swedish life insurance companies’ assets, investment allocations, organizational changes, and challenges posed by regulation and a low-yield environment, with insights from industry leaders at Alecta, SPP Livförsäkring, Brummer Life, and others.

International Selection Profiles and Fund Manager Interviews – Pages 38-63

In-depth profiles and interviews with key fund managers and industry experts from HSBC Global Asset Management, Aberdeen Asset Management, Barclays Wealth & Investment Management, Alken Asset Management, Montanaro Asset Management, and others, showcasing diverse investment approaches and manager selection philosophies.

Manager Selection at Skandia – Pages 34-36

An analysis of Skandia’s manager selection team, their research and decision processes, focusing on due diligence, blending managers, and maintaining investment discipline to ensure consistent alpha generation.

Inspirational Feature: The Travellers – Pages 62-63

Fund industry professionals share their favorite Nordic destinations, venues, and insights on regional investor trends and behaviors, reflecting the cultural and business nuances of investing in the Nordic markets.

The Office: Bloomberg London – Pages 64-65

An exploration of Bloomberg’s London office, highlighting its unique design, culture of openness and teamwork, client training capabilities, and commitment to fostering creativity and transparency within the financial data and news services firm.

Upcoming Industry Events – Page 67

Information on key Nordic industry events including Fondbar networking events in Helsinki, Oslo, and Stockholm, and the Nordic Fund Selection Awards ceremony in Stockholm, promoting networking and recognition within the asset management sector.