Decision regarding the procurement of Investment Management services for High Yield Credits

In the procurement for External Management of High Yield Credits (reg.no EXT2016:59) Första AP-fonden has decided to approve the following managers:

Brigade Capital Management LP
Capital Four Fondsmæglerselskab A/S
Hermes Investment Management Limited
Legal & General Investment Management
M&G Investment Management Limited
MacKay Shields LLC
Morgan Stanley Investment Management Limited
Neuberger Berman Group LLC
Nomura Corporate Research and Asset Management Inc.
Shenkman Capital Management Inc.
TOBAM
Wellington Management International Ltd

This decision means that the managers listed above have been approved for management of High Yield Credits for Första AP-Fonden.
This decision is motivated by the following:
The selected managers will give the fund good flexibility and portfolio diversification together with a high expected risk-adjusted return net of costs. The managers complement each other well in terms of investment styles, regional expertise as well as risk profiles and will thereby contribute to the diversification of the portfolio.
Funding decisions will be decided separately.

Stockholm June 19, 2017

Majdi Chammas
Head of External Asset Management