Cost forces APK to take bond portfolio in-house

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AUSTRIA - Cost pressures have forced the e2bn APK Pensionskasse to abandon plans to award four to five new bond mandates and bring the majority of its e500m fixed income portfolio in-house.

The multi-employer pension fund will also move away from active management, instead using exchange traded funds (ETFs). APK had been planning to implement a new global bond strategy by the end o...

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