Pension

Alecta pledges to "do better" after "abominable crisis management"

The pension fund, which manages about USD 117bn for a quarter of Sweden’s population, is preparing to publish the results of a review into its structure as early as this month.
Speaking last month, Alecta Chief Executive Peder Hasslev addressed the turbulence that continues to buffet his firm, saying: “We have to do better than this.” | Photo: PR / Alecta
Speaking last month, Alecta Chief Executive Peder Hasslev addressed the turbulence that continues to buffet his firm, saying: “We have to do better than this.” | Photo: PR / Alecta
By Rafaela Lindeberg, Love Liman and Christopher Jungstedt, Bloomberg

Alecta’s USD 3.2bn in losses and writedowns have highlighted governance shortcomings at Sweden’s biggest pension fund and the setup of a vital part of the country’s retirement savings system.

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