BNP Paribas Asset Management (BNP PAM) is delighted to announce that it has recently been selected by the Swedish public pension fund Tredje AP-fonden (AP3) as one of three managers to manage the Fund's European mid-cap equity holdings. BNP PAM's mandate amounts to SEK 1.2 billion (EUR 132 million).
Tredje AP-fonden (AP3) is one of the four buffer funds of the Swedish public pension system, managing SEK 152 (EUR 16,6) billion. Contributions are paid in by all Swedish employees.
“This success rewards the professionalism of BNP PAM's European equity team; it highlights the quality of our research and investment management process, our ability to measure and control risk, the quality of our performance, and the high level of service offered by the teams dedicated to institutional clients”, comments Frank Goasguen, BNP PAM's Head of Institutional Business Development.
BNP Paribas Asset Management
With EUR 195.6 billion in assets under management at the end of June 2004, and over 1200 employees based in over 20 countries, BNP PAM is a major European player both in the field of asset management for institutional clients and mutual fund distribution. Specialised investment teams cover the main asset classes of fundamental active management. The European equity team (19 analysts, 10 fund managers) follows an investment process that complies with the institutional investment management criteria of consistency, transparency and performance.
Julie Benoit (BNP Paribas Asset Management) - Tel. +33 1 58 97 29 51