The occupational pension company Alecta has lost around nine billion after two niche banks in the US were closed by authorities. At the same time that the company is sitting in a crisis meeting on Monday – sharp criticism is being directed at their strategy. – For a pension saver, around SEK 3,500 disappeared in one day. Why are they even doing active management? says Bo Becker, professor of economics at the School of Economics. American authorities announce in a joint statement that they are closing the New York-based crypto bank Signature Bank. The decision is part of limiting the fallout from the crisis surrounding California’s largest bank, Silicon Valley Bank. A major investor in SVB is the Swedish occupational pension company Alecta, which also has investments in Signature Bank. Bo Becker, professor of economics at the Stockholm School of Economics, now hopes that responsibility will be demanded after the pension savers’ huge loss. – If you now want high pensions, should there really be a bunch of people with braces sitting at Alecta and deciding on Swedes’ pensions? There is an easy way if you manage a lot of money: the easiest is to buy indexes and own the entire stock exchange. Then no trustees are needed, he says. Requires explanation On Tuesday, it emerged that Alecta will hold a crisis meeting, according to information to DI. That Alecta loses around one percent of its capital in one day shows that their risk-taking is too great, according to Bo Becker. Although the investment in niche banks may have been successful from a longer perspective. – This means that they had almost one percent invested in this type of niche bank. If it is an active decision to have that strategy, they must be able to stand by it even when they have lost billions, he says. – Their investors expect investments in the stock market or securities, but there is nothing in the agreement that says they have to find exciting investments in some niche bank in California. TV4 Nyheterna has contacted Alecta, who does not want to comment on the situation at the moment.
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Saws Alecta: "Why are they even doing active management?”
