Sweden's A-P Fonden 7 has hired France's CDC Asset Management for a Skr1bn (€109m) active European equity mandate and Schroder Investment Management to run its Skr400m portfolio for Asia-Pacific excluding Japan.

Richard Gröttheim, deputy managing director of the Skr15bn pension fund, said that both firms demonstrated a strong investment process with large resources devoted to analysis, and the fund felt confident with the teams. Schroder will manage the mandate out of its Singapore office.