A-P Fonden 3, one of the Swedish national funds, has appointed a raft of new international managers to manage part of the Skr126.6bn (€13.8bn) asset pool.

The fund has appointed Deutsche Asset Management, Fidelity Investments, Morgan Stanley Investment Management and Nomura Asset Management for Japanese equities. The managers are appointed on a 'reserve' basis and may never get funded portfolios. Earlier this month the fund appointed Schroder Investment Management and Capital International to each run Skr1.3bn in Japanese equities.