Alecta’s $3.2 Billion Woes Need More Than a Pledge to ‘Do Better’
- Swedish pension fund’s governance review expected soon
- Crisis has sparked revolving door of executives, three probes
This article is for subscribers only.
Alecta’s $3.2 billion in losses and writedowns have highlighted governance shortcomings at Sweden’s biggest pension fund and the setup of a vital part of the country’s retirement savings system.
The fund, which manages about $117 billion for a quarter of the country’s population, is preparing to publish the results of a review into its structure as soon as this month.