Skagen Funds said it will remove its €800 million funds from Swedish pension fund, PPM, if it did not change the way it manages its assets, Financial News reports. The public pension fund has presented a report to the government that comprises several solutions to the problem. In October, Skagen, the Swedish system’s largest foreign manager, asked PPM to place measures to prevent short-term fluctuation into and out of the funds with a short-time horizon. The asset manager’s complaint centered around the administrative costs caused by asset churning.
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