Första AP-Fondens Annual Report 2010

• Introduction
  • Highlights of 2010
  • Message from the Managing Director – Another year with good return
  • Första AP-fonden is a long-term investor
  • Economic outlook – a world in imbalance
• Organization and employees
  • Competent employees
• Operations and results 2010
  • Directors’ report
  • Fund performance
  • Five-year overview
  • Total return
  • Internal management
  • External management
  • Portfolio composition
  • Valuation of financial instruments
  • Income statement
  • Balance sheet
  • Accounting and valuation policies
  • Notes
  • Board of Directors’ statement of assurance
  • Audit report
  • Fund management report
  • Report on internal control and risk management
  • Board of Directors
  • Executive Management Team