Swedish pension fund appoints Hermes for HY

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By Victor Jimenez
23 Oct 2017

Första AP-Fonden (AP1) has become the latest institutional investor to look beyond Europe for returns in the corporate high yield bond market, with Hermes set to manage its new global high yield fund.

AP1 is one of the five buffer funds in the Swedish national income pension scheme. On Monday, UK-based investment manager Hermes announced that it had been awarded AP1’s new $400m global high yield mandate.

AP1’s move further confirms a trend that has seen a spate of high ...

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