The Swedish public pension fund AP1, which has 420 billion SEK (39.9 billion euros) in assets, has lost two of its main fund selectors.
Majdi Chammas, Head of External Manager, and Tina Rönnholm, Portfolio Manager, Head of External Partnerships and Innovation, join the new Swedish fund selection agency (Fondtorgsnämnden, FTN).
FTN is a government agency responsible for obtaining, monitoring and evaluating funds from the Swedish premium pension system.
Chammas and Rönnholm have been named Head of Purchasing and Product Strategy and Head of Manager Research, respectively.
Rönnholm, who announced the duo’s departure on LinkedIn, said it had been “an honor and a pleasure” to serve AP1 and they wished the fund the best.
Both breeders have been appointed Expert Advisors by the Swedish Government/Ministry of Health and Social Care to assist in the development of the FTN fund platform, alongside their day-to-day responsibilities at AP1.
Chammas, which appeared this year in Citywire Selector Top 100, spent over two decades at AP1. First quantitative analyst and portfolio manager before becoming head of external management in 2015 and head of external partnerships and innovation in January 2020.
Rönnholm joined AP1 in 2016 after spending more than 17 years at SEB in Finland, where she started as an investment fund assistant and eventually became chief investment officer of multi-management in 2011.