Default PPM fund AP7 records strong 2019; industry continues response to proposed PPM changes

Data distributed by Swedish pensions information provider Pensionsnyheterna, and cited by local daily business newspaper Dagens Industri suggest that the default SEK595.5bn (€56.6bn) AP7 equty fund in the country's Premium Pension (PPM) system had a strong year in 2019,  as returns hit 33.1%, the highest since 2013, outperforming the MSCI World equity index return of 27.3% in local currency. The returns were boosted by currency movements, as the relatively weak SEK improved gains from the global holdings in the fund. Dagens Industri notes additionally that the fund can use leverage, w...