How is AP1 managed?
Like the other AP funds, Första AP-fonden is a government entity. However, there is a major difference between Första AP-fonden and other government entities. The Fund is more independent than most, since its operations are regulated only by law and not by directive.
Första AP-fonden has been directed by the Swedish Parliament to manage pension capital on behalf of the Swedish people. The Fund’s operations are regulated by the guidelines in the Swedish National Pension Funds Act.
The Government appoints the Fund’s Board of Directors, which in turn appoints a Managing Director. The Government also appoints the Fund’s independent auditors. Every year, the performance of the AP funds is evaluated by order the Swedish Government and the results are presented in a communication to the Swedish Parliament.
