The Swedish government’s new corporate governance policy for the AP funds is threatening the independence of the national buffer funds as it risks turning them into political tools. But some are questioning if the directive breaches the AP funds’ legislation.

Threadneedle has closed its Stockholm office as part of a move to consolidate its Nordic operations. The change sees the departure of Nordic head of distribution Thomas Berglund, who has been in the role since 2005.

Danish Industriens Pension has started a push into equities and has increased its allocation from 18 to 25 per cent. The DKr39.8bn (e5.4bn) Danish pension fund for industrial workers has not only enhanced the size of its existing mandates and bought futures, but also awarded a new European equity mandate to Danske Capital.

Söfnunarsjódur lífeyrisréttinda, the Icelandic General Pension Fund, is hoping that Icelandic pension funds will soon be allowed to increase their allocation to foreign assets.

Proposed EU regulations for private equity and hedge funds have been met with caution by Fondbolagens Förening, the Swedish investment fund association.