4 ms·

Sweden's largest pension fund has lost billions of dollars investing in US banks

• animal_spirits 3y ago
  Link to the actual news, article: https://www.reuters.com/business/finance/swedens-alecta-replaces-ceo-after-us-bank-losses-2023-04-11/ https://www.reuters.com/business/finance/swedens-alecta-repl...
  • freeqaz 3y ago
    Is it just me or do reuters links just go to the homepage? (I'm on iOS with Wipr installed for ad blocking)
    • Spoiled_toast 3y ago
      I’m on IOS as well and it’s not just you. I got linked to the homepage as well.
    • andreareina 3y ago
      https://archive.is/lDg3B https://archive.is/lDg3B
• DanielHB 3y ago
  A small note: Alecta is a private pension fund (tjänstepension). Public pension funds are unaffected as far as I know As a software engineer working in Sweden my current pension savings (after the losses) are about 55% public pension (allmänpension) and 45% private pension (tjänstepension, most of which is with Alecta). I don't have a way to check how much I personally lost on this though. Meaning that this will affect the higher income working class more, the people who have private pensions from their employers.
• andreareina 3y ago
  If I'm reading the table right that's 12B of exposure out of ~1T in assets under management?
  • swedishturnip 3y ago
    That's correct.