About AP1
Första AP-fonden is a pension fund with a global orientation whose management contributes to ensuring a high and predictable retirement pension for every person who is, or ever has been, employed in Sweden.
Första AP-fonden is one of Sweden’s largest pension managers, with net assets of SEK 181.4 billion that are allocated among a wide spread of investments around the world.
Första AP-Fonden (AP1) is one of five buffer funds in the Swedish pay-as-you-go pension system whose role is to even out temporary fluctuations during periods when pension contributions are not sufficient to cover pension disbursements.
Measured over the period June 2004 to June 2009, the Fund has generated investment earnings of SEK 27 billion. This is equal to an average annualized return of 3.4 % after operating expenses, which is just below the Fund’s estimated required return in the buffer funds to ensure the long-term stability of the Swedish pension system.
A global pension manager that aims high
Första AP-fonden is a global pension fund manager that invests in equities, fixed income securities, foreign exchange and alternative investments worldwide.
Given its very challenging mission, the Fund must aim high. Första AP-fonden strives to serve as a role model among international pension funds and to create tangible value for the Swedish pension system. To succeed, the Fund must have cutting-edge knowledge, skills and working methods.
In the first half of 2009 Första AP-fonden implemented a new investment model, where the change is aimed at increasing the focus on strategic allocation. The guiding priciples for the new model are long-term perspective, flexibility, commitment and cost-efficiency.