Sweden's prime minister has attacked an activist private equity fund over its attempts to force a restructuring at car manufacturer Volvo. The dressing down came as one of the country's national pension schemes defended its stake in the fund.

The Skr188.2bn (€20.5bn) AP-Fonden 1, which holds 0.2% of its assets in unlisted securities and venture capital funds, is invested in an activist fund run by Swedish asset manager Cevian Capital.