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A central feature of the Swedish pension fund reform at the turn of the millennium was to encourage competition among the newly created funds (AP 1-4 buffer funds) to enhance their performance. In light of the previous results reported in this thesis the question arises as to what extent there is actual competition for performance. Instead of compe...
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... later periods, especially after 2010, AP 1-4 funds reduced their ownership of Swedish equity to 11-12%, except AP-4 that had around 16% of its funds in Swedish equity at the end of the period. See Figure-1. The size of each AP buffer fund's Swedish equity portfolio is 10-20 times larger than the average Swedish mutual fund (see Table1). ...