Första AP-Fonden Annual report 2008

At the balance sheet date, 31 December, SEK million	Note	2008	2007
Assets
Shares and participations, listed	7	89 252	125 641
Swedish equities		17 518	25 670
Non-Swedish equities		71 734	99 971
Shares and participations, unlisted	8	4 913	4 278
Bonds and other fixed income assets	9	78 174	85 592
Swedish state		3 856	14 627
Swedish municipalities			–
Swedish mortgage institutions		17 215	14 137
Other Swedish companies
Financial companies		6 867	941
Non-financial companies		6 525	861
Foreign states		25 203	40 526
Other foreign issuers¹		18 508	14 500
Derivatives	10	2 340	2 437
Currency futures		2 293	2 342
Currency options		17	–
Interest futures			–
Equity futures		30	95
Equity options			–
Cash and bank balances		1 295	856
Other assets	11	813	328
Incoming payments, unsettled transactions		788	313
Receivables from foreign tax authorities		20	13
Ohter assets		5	2
Prepaid expenses and accrued income	12	1 420	1 616
Accrued interest income		1 290	1 430
Accrued dividends		124	172
Ohter prepaid expenses and accrued income		6	14
Total assets		178 207	220 748
Liabilities
Derivatives	10	5 460	1 601
Currency futures		5 448	1 421
Currency options		10	–
Interest futures			–
Equity futures		2	180
Equity options			–
Other liabilities	13	987	285
Outgoing payments, unsettled transactions		700	269
Other liabilities		287	16
Accrued expenses and deferred income	14	133	71
Accrued performance-based fees		85	28
Accrued management fees		32	39
Other accrued expenses		16	4
Total liabilities		6 580	1 957
Net assets	15
Opening net assets		218 791	207 105
Net inflow from the pension system		831	991
Incoming pension contributions		50 783	47 603
Outgoing pension disbursements		-49 796	-46 405
Transfer of pension entitlements to EU		-6	-8
Adjustment of pension entitlements		2	1
Outgoing administrative contribution to Swedish Social Insurance Agency		-152	-200
Transferred from liquidation fund/special management fund		52	1 028
Transferred from Första AP-fonden's Liquidation Fund			961
Transferred from Fjärde AP-fonden's (AP4) Special Management Fund		52	67
Net investment income for the year		-48 047	9 667
Total net assets		171 627	218 791
Total net assets and liabilities		178 207	220 748
Memorandum items
Pledges and other equivalent collateral to secure own liabilities		none	none
Other pledged assets	16	5 941	38 485
Securities on loan against other collater		3 585	36 946
Collateral for futures transactions		2 356	1 539
Commitments	17	8 575	3 114
Investment commitments, unlisted holdings		8 575	3 114

Balance sheet