Swedish default option to be lifecycle funds

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SWEDEN - The default investment option for Swedish investors will now be lifecycle funds, after a government directive mandated that individuals' assets should de-risk as they age, confirmed Richard Grottheim, executive vice president at AP7.

AP7 runs the country's SKR75bn (US$10.74bn) in default assets through the Premium Savings Fund and the Premium Choice Fund. "We are very happy about this new directive that the government has is...

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