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A $39 Billion Swedish Investor Is Cutting Its Exposure to Hedge Funds

(Bloomberg) One of Sweden’s biggest pension funds has chosen to rely less on hedge funds after deciding the asset management form generally doesn’t justify the extra expense. After using hedge funds “for a long period,” AP3, which has 345 billion kronor ($39 billion) in assets under management, has “recently reduced the exposure,” according to Marten Lindeborg, chief investment officer at the Stockholm-based fund.

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