The Second Swedish National Pension Fund (AP2) has selected State Street to provide global investment services, including custody and fund accounting, for its $14 billion in assets under management.
AP2 is one of four buffer funds created as part of the May 2000 reorganisation of Sweden's national pension system.
The deal marks State Street's second Swedish pensions contract win, following a recent agreement with Siemens' Sverige Pensionsstiftelse to provide custody, accounting, performance and analytics, and global foreign exchange services.