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BY MARK COBLEY
Several big Scandinavian pension funds reported strong investment gains for the first six months of the year, thanks to recovering markets and a better environment for active stock picking, suggesting investors who have kept faith in money managers’ ability to beat the markets may yet see a reward.
AP2 and AP4, two Swedish state pension funds, reported gains of 6.4% and 7.8%, respectively, for the first half, net of fees and costs. (…)