AP3, which is one of the Swedish National Pension funds, has adopted FTSE Global Equity Index Series, which covers 98% of the world market capitalisation, including global small caps, for all of its equity mandates previously using the FTSE All-World Index.
In addition, AP3’s mandates for European Small Cap, North American Small Cap and North American Mid Cap, which were not previously benchmarked against FTSE indices, have now been switched to sub-indices of the FTSE Global Equity Index Series.
| Mandate | Benchmark |
| European Mid Caps | FTSE Developed Europe, Mid Cap |
| European Small Caps | FTSE Developed Europe, Small Cap ex Investment Companies |
| US Mid Cap | FTSE North America, Mid Cap ex Real Estate Investment Trusts |
| US Small Cap | FTSE North America, Small Cap ex Real Estate Investment Trusts |
Mark Makepeace, Chief Executive of FTSE Group said, “The FTSE Global Equity Index Series allows us to offer our customers a streamlined and efficient service with complete, seamless coverage and the ability to create customised benchmark indices. We believe that it is the best index of this kind and it is a great endorsement for us that AP3 has recognised this potential and chosen it as its global equity benchmark.”
FTSE benchmarks are used by pension funds around the world, including, CalPERS in the US, OMERS in Canada, MPF in Hong Kong, PGGM in the Netherlands, and FRR in France.
